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CEO of Follett Corp. to retire
River Grove, Ill. -- Chuck Follett, president and CEO of Follett Corp., announced his decision to retire after 38 years of service with the company. Follett is the leading operator of college bookstores, and also a major distributor of physical and digital educational materials and services to primary, secondary and university level institutions.
Follett’s board of directors has initiated a search for Follett's successor. Follett will remain the company's president and CEO until a successor is identified. -
Family Dollar Q1 profit up 8%, revenue misses Street
Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that its first quarter profit rose 8% to $80.4 million, compared with $74.3 million in the year-ago period.
Sales for the period ended Nov. 26, 2011, rose to $2.15 billion from $2 billion in the year-ago period, missing Wall Street’s expected $2.17 billion in revenue. Same-store sales rose 4.1%.