Family Dollar

Winston-Salem, N.C. -- RockTenn and BVI Networks announced the debut of its first large-format ShopperGauge Retail Learning Lab at Family Dollar Stores.

The goal is to provide a state-of-the-art “learning laboratory” in a set of real stores where Family Dollar and its suppliers can test designs, displays and promotions with customers, ultimately improving the in-store shopper experience.

Gloucester, Mass. -- TradeStone Software announced that Family Dollar Stores has gone live with TradeStone's Collaborative Sourcing and Supplier Community Management solutions. The implementation was done in only 100 days.

“In my years at Family Dollar, I don't know of an application that's been up as fast as we got TradeStone up and running," said Scott Zucker, VP IT solutions, Family Dollar Stores, Matthews, N.C.

MEMPHIS, Tenn. — Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

The store is located in Memphis, Tenn., and features a green building design and a spacious layout for an optimal shopping experience, the company reported. 

To commemorate the opening of its 7,000th store in Memphis, Family Dollar completed the celebration with the $7,000 donation to the Mid-South Food Bank, along with cans of food donated by members of the local community. 

MATTHEWS, N.C. — Family Dollar Stores announced that it has named Christopher Nielsen to the position of VP loss prevention. Nielsen will report to Bryan Venberg, SVP human resources.

Family Dollar disappointed its investors this week with a third-quarter earning report in which gross margin pressures caused the company to report earnings per share of 91 cents that were four cents shy of analysts’ consensus estimates. The operator of 6,900 stores also said its 4.7% same-store sales increase was short of guidance of 5% to 7% and then used the occasion to lower fourth-quarter sales and earnings forecasts.

Matthews, N.C. -- Family Dollar Stores' third-quarter net income increased 6.5% as broader markdowns drew more store traffic. Its results, however, fell short of analysts' expectations.

For the quarter ended May 28, Family Dollar had net income of $111.1 million, compared with $104.4 million a year earlier.

Revenue was up 8% to $2.15 billion. Same-store sales rose 4.7%.

Family Dollar said sales were strongest in consumables and home products.

Matthews, N.C. -- Activist investor William Ackman on Thursday disclosed ownership of an 8.9% stake in Family Dollar, according to a regulatory filing.

The investment makes Ackman and his Pershing Square Capital Management investment fund the largest owner of Family Dollar stock, increasing his holdings from 4.7% to the nearly 9%.
 

New York — Bill Ackman, the founder of Pershing Square Capital Management, has taken a “passive” stake in Family Dollar Stores, Bloomberg reported.  Ackman, speaking at the Ira Sohn Conference in New York, said he invested in Family Dollar Stores  because it’s “very reasonably priced” and may be acquired.

“It’s a good business, it’s done very well for a long time,” he said, according to the report. “It’s an attractive LBO transaction.”