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Search resuls for: "Dollar Tree’s"


6 mentions found


☆ Family Dollar to Close Nearly 1,000 Stores
  + stars: | 2024-03-13 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com   time to read: 1 min
Family Dollar will close nearly 1,000 stores, a move its executives say is a result of declining sales and economic headwinds. Dollar Tree, which owns Family Dollar, said Wednesday that it would close 600 Family Dollar locations this year and phase out 370 more when their leases expire. Family Dollar currently has about 8,000 stores. The company said stubborn inflation, theft and the end of pandemic-era additional benefits from the federal government’s Supplemental Nutrition Assistance Program were weighing on the company. “Family Dollar is a victim of the macro environment out there,” Dollar Tree’s chief executive, Rick Dreiling, told analysts on Wednesday.
Persons: Rick Dreiling Organizations: Assistance
☆ Family Dollar to pay nearly $42 million in connection with rodent-infested warehouse
  + stars: | 2024-02-27 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
New York CNN —Family Dollar Stores was hit with a record fine for violating product safety standards after selling items that were stocked in a rat-infested warehouse filled with live, dead and decaying rodents. The retailer, a subsidiary of Dollar Tree was fined $41.6 million, “the largest-ever monetary criminal penalty in a food safety case,” the Justice Department said in a statement Monday. Family Dollar and Dollar Tree will also be under robust corporate compliance and reporting requirements for the next three years, according to the DOJ. The agency said at the time that Family Dollar has been aware of the rodent problem since at least January 2020. The DOJ said Family Dollar, which has more than 8,000 stores nationwide, pleaded guilty to one misdemeanor count of causing FDA-regulated products to become adulterated while being held under insanitary conditions.
Persons: ” Benjamin Mizer, exterminators, Rick Dreiling, “, Dreiling, – CNN’s Nathaniel Meyersohn, Rebekah Riess Organizations: New, New York CNN, Justice Department, DOJ, The, Food and Drug Administration, FDA, Dollar Tree’s Locations: New York, Arkansas
☆ Dollar General bets on old boss’s old magic
  + stars: | 2023-10-13 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, Oct 13 (Reuters Breakingviews) - Dollar General (DG.N) is reaching back to happier days. In that time, shares plummeted 60%, compared to rival Dollar Tree’s (DLTR.O) gentler decline of roughly a fifth. Meanwhile, Dollar General has repeatedly missed analyst expectations as net profit margin fell from nearly 7% to estimates of 3% for this quarter, according to LSEG. Under his previous stint from 2015 until 2022, shares returned an annualized 19%, beating Dollar Tree, Walmart (WMT.N) and Big Lots (BIG.N). Dollar General faces plenty of challenges shared by all retailers, from rising wages to shifting consumer spending.
Persons: Todd Vasos, Jeff Owen, Vasos, Walt Disney, Bob Iger, Howard Schultz, outperforming, doesn’t, Jennifer Saba, Larry Fink, Uncle Sam, Jonathan Guilford, Sharon Lam Organizations: Reuters, Walmart, Walt, Starbucks, X, Infosys, Thomson Locations: Europe
☆ In Lululemon and Dollar General earnings, signs of a possible economic split
  + stars: | 2023-09-02 | by ( Samantha Delouya | ) edition.cnn.com   time to read: +4 min
One reported strong sales on Thursday, while the other warned it may experience a sales decline for the year. Dollar General’s earnings report on Thursday painted a different picture. “Core customers continue to tell us they feel financially constrained,” said Dollar General’s CEO, Jeff Owen, on the company’s earnings call. Brian Nagel, a retail analyst at Oppenheimer & Co. who covers Lululemon, said he sees still strong spending across all retailers he covers. “Generally speaking, consumer spending has held in,” he said.
Persons: CNN —, ”, Calvin McDonald, Lululemon, Jeff Owen, Neil Saunders, Brian Nagel, Nagel, ” Nagel, Richard Dreiling, John Rainey, ” Rainey, Shannon Seery Organizations: CNN, Oppenheimer, Co, Federal Reserve, Fed Locations: Wells, United States, —
☆ Surprise: Dollar Tree’s $1.25 price strategy is actually working
  + stars: | 2022-11-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +3 min
Other companies have also raised prices, so Dollar Tree has been shielded from major customer blowback. Sales at Dollar Tree stores increased 8.6% last quarter compared to a year ago, the company, which also owns Family Dollar, said Tuesday. “Our transition to the $1.25 price point has enabled our merchants to greatly enhance value,” Dollar Tree CEO Michael Witynski said on a call with analysts Tuesday. Dollar Tree has since brought back some of these items at $1.25 and expanded its offerings of meat, pizza, breakfasts and other consumable items. Dollar Tree is also adding more $3 and $5 items to stores, building on a previous strategy.
☆ Dollar Tree’s Green Shoots Aren’t Strong Enough
  + stars: | 2022-11-22 | by ( Jinjoo Lee | ) www.wsj.com   time to read: 1 min
Dollar Tree ‘s shiny new pricing strategy is clearly making its foliage look greener, but lackluster traffic is taking away some of that sheen. The company on Tuesday reported that comparable-store sales at its namesake stores grew 8.6% for the quarter ended Oct. 29 compared with a year earlier. The Family Dollar chain saw same-store sales grow 4.1%. Both were well above Wall Street expectations. Net income for the whole company rose 23.1%, slightly beating expectations.
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