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Family Dollar stays positive following Q3 results
Just a month after activist investor Carl Icahn became Family Dollar’s largest shareholder prompting concerns of a hostile takeover, the company reported its third straight quarterly decline in same-store sales.
Same-store sales for the third quarter ended May 31 decreased 1.8% because of fewer customer transactions, partially offset by an increase in the average customer transaction value. Sales in the third quarter of fiscal 2014 were strongest in the consumables category, driven primarily by strong growth in refrigerated/frozen food and tobacco.