Discount Store

Photo: Central Valley Marketplace, Ceres, California

Chesapeake, Va. -- It’s a done deal.

Dollar Tree announced Monday that it has completed its $8.5 billion acquisition of Family Dollar Stores.

Gary Philbin, 58, formerly president and COO of Dollar Tree, has been named to the same position at Family Dollar, effective immediately. In his new role, Philbin will continue to report to Bob Sasser, CEO of Dollar Tree.

Ottawa, Canada – Home Depot is narrowing its price gap with Amazon.com, which typically offers the lowest overall prices on home improvement goods.

 According to a recent study from pricing analytics provider 360pi, “Building Up to Home Improvement Season,” Home Depot was the most aggressively priced home improvement “category killer,” with an average price of just more than 5% above Amazon, narrowing down to around 3% above Amazon by the end of the sampled period (May 1 – June 16, 2015).

Cincinnati -- Phillips Edison Grocery Center announced it has acquired three grocery-anchored shopping centers in Michigan, California, and Massachusetts.

Crossroads Towne Center is a 102,275-sq.-ft. grocery store-anchored shopping center in Howell, Michigan, a suburb of Ann Arbor, Michigan. The center is anchored by Kroger, and also features national tenants Great Clips, Jets Pizza, Subway, H&R Block, and Little Caesars.  

Dollar Tree's yearlong takeover saga, in which the retailer's offer to buy Family Dollar prompted a separate buyout attempt from Dollar General, is finally over.

Dollar Tree Inc. announced that it has completed its $8.5 billion acquisition of Family Dollar Stores Inc. Dollar Tree also named a new president and COO of Family Dollar. The combined company will operate about 13,000 stores, making it the largest dollar store chain in the U.S. by store count. 

Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., opened a new store in Tampa on June 27.  

The 22,000-sq.-ft. store, located in University Plaza on the northwest corner of Fletcher Avenue and Bruce B. Downs Boulevard, marks the retailer’s 26th store in Florida and secures the state as dd’s third-largest in terms of store counts.

Family Dollar had a dip in profit in the third quarter as the company reported higher costs ahead of its planned merger with Dollar Tree.

Family Dollar Stores Inc. reported a profit of $79.9 million, or 70 cents a share, for the third quarter ended May 30, down from $81.1 million, or 71 cents a share, a year earlier. Excluding restructuring- and merger-related charges, the company’s profit was 74 cents a share, compared with 85 cents a year earlier. Net sales rose 2.60% to $2.73 billion.

Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., opened a new store in Eastex, Texas on June 27.  

The 21,000-sq.-ft. store is located in the Eastex Shopping Center at Highway 59 and Little York Road.