Family Dollar

Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended Feb. 26 rose 10% to $123.2 million, compared with $112.2 million a year earlier. Results were helped in part by improved traffic and higher transaction value.

Revenue increased 8% to $2.26 billion, from $2.09 billion. Same-store sales rose 5.1%.

Earlier in March, Family Dollar turned down an approximately $7 billion buyout offer from minority shareholder Nelson Peltz's Trian Fund.

Profit grew by nearly 10% to $123.2 million and sales advanced 8.3% to nearly $2.3 billion, as Family Dollar remained on a consistent growth trajectory during its second quarter ended Feb. 27. Earnings per share for the period increased 21% to 98 cents compared with 81 cents in the second quarter the prior year.

Retailers’ growth plans in the United States are up 40% over last year’s levels, according to ChainLinks' Retail Advisors Spring 2011 National Retail Report. The report, which details trends impacting retail commercial real estate in more than 40 of the nation’s top markets, credits the surge in expansion to two key factors: the return of optimism within the retail sector; and the desire to expand quickly now -- before retail fundamentals improve enough for rents to start climbing again.

MATTHEWS, N.C. -- Family Dollar today showed why dollar stores are such a hot commodity right now by reporting a comparable-store sales increase of 5.1% for the second quarter ended Feb. 26. Net sales for the quarter increased 8.3% to $2.26 billion from $2.09 billion last year. According to the company warmer weathr earlier in the year as well as strong performance in its consumable and seasonal categories helped drive sales. 

Matthews, N.C. -- Family Dollar today showed why dollar stores are such a hot commodity right now by reporting a comparable-store sales increase of 5.1% for the second quarter ended Feb. 26. Net sales for the quarter increased 8.3% to $2.26 billion, from $2.09 billion last year. According to the company warmer weathr earlier in the year as well as strong performance in its consumable and seasonal categories helped drive sales.

Matthews, N.C. -- Family Dollar will cut more than 100 jobs as part of a companywide restructuring. The cuts will occur in all divisions of the company, the Charlotte Business Journal reported. 

In a memo to employees, the company said the cuts will allow Family Dollar to make decisions more quickly and move faster to achieve its goals, according to the report.

The retailer is slated to open 300 stores in fiscal 2011, which began in September. It will renovate as many as 800 stores.

CITY OF COMMERCE, Calif. — First it was Family Dollar, now 99 Cents Only Stores finds itself in buyout talks, as investors are seeing the value in discount store chains.

The company has received a proposal to take the company private from the company's founding family and investment firm Leonard Green & Partners LP for $19.09 per share, the Associated Press reported.

Tarrytown, N.Y.-based DLC Management Corp. has launched the redevelopment of Wing Park Shopping Center in Elgin, Ill.

DLC has pre-leased the redevelopment to a pair of anchor tenants: Walgreens has signed a 75-year lease for a 14,820-sq.-ft. prototypical store with drive-through that will be built to suit, and the existing Family Dollar will be relocating and expanding into an 8,400-sq.-ft. space. The overall redevelopment is 80% pre-leased.