Tag Archives: Howard Levine

Dollar Tree to Acquire Family Dollar

Dollar Tree

CHESAPEAKE, Va.-In a cash-and-stock deal, Dollar Tree has reached an agreement to purchase Family Dollar for about $8.5 billion, or about $74.50 per share. The transaction, which is slated to close in early 2015, will create a retailer of more than 13,000 stores in 48 states and five Canadian provinces. Annual sales for the combinedMore »

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 »

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 »