Tag Archives: Family Dollar

Family Dollar Net Plummets in Q3

Family Dollar

MATTHEWS, N.C.-Family Dollar posted a third-quarter drop of 32.9 percent, to $81.1 million, as its chairman and CEO, Howard Levine, proclaimed that the company’s restructuring initiatives are on track. In the company’s statement on its results for the quarter, which ended on May 31, Levine said its move to permanently lower its prices is “resonatingMore »

Icahn Pushes for Family Dollar Sale

Carl Icahn

NEW YORK-Activist investor Carl Icahn has called for an immediate sale of Family Dollar in a letter to Howard Levine, chairman, president and CEO of the dollar-store retailer, which was included in a filing with the United States Securities and Exchange Commission. Earlier this month, Icahn purchased about 9.4 percent of Family Dollar’s stock throughMore »

Thomas Upped to Head Family Dollar Merchandise Operations

Jeffrey Thomas

MATTHEWS, N.C.-Family Dollar has promoted Jeffrey Thomas to senior vice president of merchandise operations. The move puts Thomas, who was previously vice president of merchant services, in charge of merchandise planning, space planning, merchant services and pricing/analytics. He reports to Jason Reiser, executive vice president and chief merchandising officer, and has succeeded Scott Zucker, whoMore »

Icahn Buys Block of Family Dollar Shares

Carl Icahn

NEW YORK-Investor Carl Icahn has purchased about 9.4 percent of Family Dollar’s common stock through some of his affiliate companies. According to a filing by Icahn with the U.S. Securities and Exchange Commission, the investor bought the shares “in the belief that they were undervalued.” The filing went on to cite a number of similarMore »

Family Dollar to Cut Work Force, Close Stores

Family Dollar

MATTHEWS, N.C.-Declaring that “we hold ourselves accountable for improving our performance,” Family Dollar Chairman and CEO Howard Levine said the retailer will reduce its work force and close about 370 underperforming stores, in the wake of second-quarter results which were below the company’s expectations. Net income in the quarter, which ended on March 1, plummetedMore »

Hancock Tabbed as Family Dollar Supply-Chain Head

Family Dollar

MATTHEWS, N.C.-Family Dollar has named Brian Hancock senior vice president-supply chain. The move puts Hancock in charge of the dollar-store retailer’s supply-chain operation. He reports directly to Howard Levine, chairman and CEO. Prior to joining Family Dollar, Hancock was president-North American division for The Martin Brower Co., which supplies food and materials to McDonald’s restaurantsMore »

Family Dollar Posts Record Results for Q4, Fiscal Year

Family Dollar

MATTHEWS, N.C.-The fiscal year ending on Aug. 31 proved to be a record-breaking one for Family Dollar. For the quarter, the dollar-store retailer reported net income of $102.2 million, up 26.3 percent, and net sales of $2.5 billion, an increase of 5.8 percent. For the year, net income totaled $443.6 million, up 5.1 percent, andMore »

Family Dollar Tabs Macak to Head Supply Chain

Family Dollar

MATTHEWS, N.C.-Jeffrey Macak has been appointed executive vice president-supply chain of Family Dollar. The move puts Macak over the dollar-store retailer’s supply-chain operation, with a focus on improving the supply chain’s efficiencies to increase value for the company’s customers. He reports directly to Mike Bloom, president and chief operating officer, and succeeds Charlie Gibson, whoMore »