Family Dollar Stores – Company Information
Family Dollar Stores operates a chain of general merchandise retail discount stores across the Unites States. Its headquarters are in Matthews, North Carolina, and is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘FDO’.
The company has approximately 7,900 general merchandise retail discount stores in 46 states that focus on providing a range of competitively priced merchandise in convenient neighborhood areas. Its merchandise is typically priced at less than $10.
Products that its stores sell include consumables, home products, apparel and accessories, and seasonal and electronics.
Its mission is “to provide our customers with a compelling place to shop, our team members with a compelling place to work, and our investors with a compelling place to invest.”
Its strategy is “to provide consumers with value and convenience in a small, easy-to-shop environment.”
The history of the company traces back to 1959, when Leon Levine opened the first Family Dollar store in Charlotte, North Carolina. In 1969 Family Dollar Stores, Inc. was incorporated in Delaware and the company went public in 1970.
Family Dollar Stores – Live Stock Market Data
Family Dollar Stores – Overview
- Chairman and CEO: Howard R. Levine
- President and COO: Michael K. Bloom
- CFO: Mary A. Winston
- Type: Public
- Industry: Retail
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: FDO
- S&P 500 Component
- Financial year ends in August
- Revenue: $10.391 billion USD (2013)
- Net income: $443 million USD (2013)
- Diluted earnings per share: $3.83 USD (2013)
- Founded: 1959
- Founder(s): Leon Levine
- Employees: 34,000 (2013)
- Corporate headquarters: 10401 Monroe Road, Matthews, North Carolina, USA
- Corporate contact number: (704) 847-6961
- Investor relations email: [email protected]
- Website: http://corporate.familydollar.com
Family Dollar Stores – Overview
|Operating data (in $ thousands)||2013||2012|
|Cost of sales and operating expenses||$9,703,500||$8,666,792|
|Income before income taxes||$690,697||$663,938|
|Balance sheet data (in $ thousands)|
|Total stockholders’ equity||$1,599,055||$1,297,627|
|Cash flow data (in $ thousands)|
|Net cash provided by operating activities||$471,973||$369,371|
|Net cash used in investing activities||$(314,591)||$(198,311)|
|Net cash used in financing activities||$(108,716)||$(220,132)|
|Cash and cash equivalents at end of period||$140,999||$92,333|
|Common share data (in $)|
|Basic earnings (loss) per common share||$3.85||$3.61|
|Diluted earnings (loss) per common share||$3.83||$3.58|
Family Dollar news
August 22, 2014: Family Dollar’s board of directors unanimously rejected rival Dollar General’s $8.9 billion bid, citing antitrust considerations. The board members reiterated their preference for the Dollar Tree merger deal that had been agreed. Dollar General said it was disappointed with Family Dollar’s response.
July 28, 2014: Family Dollar has agreed to be taken over by Dollar Tree for $8.5 billion in a cash and stock deal. Dollar Tree will pay Family Dollar stockholders $74.50 per share ($56.60 cash + $14.90 equivalent in Dollar Tree shares). While the two companies may seem similar because both of them use the word “dollar”, they are different. They believe the new merged company will be able to capture a greater share in the lower-income customer market.