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☆ Dollar Tree CEO Rick Dreiling abruptly steps down
▼ + stars: | 2024-11-04 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +1 min

New York CNN —Embattled discount chain Dollar Tree announced its CEO and chairman, Rick Dreiling, had stepped down on Sunday. Shares of Dollar Tree, which also owns Family Dollar, have plunged more than 50% this year. Dollar Tree, which also owns Family Dollar, appointed COO Michael C. Creedon as interim CEO and Edward J. Kelly as chairman. Dollar Tree also said it is still committed to a review of “strategic alternatives” for Family Dollar. Dollar Tree bought its rival in 2015 for $8.5 billion, believing the acquisition of Family Dollar would help it compete against larger companies.

Persons: Rick Dreiling, Dreiling, ” Dreiling, Michael C, Creedon, Edward J, Kelly, It’s, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Walmart Locations: New York

☆ Walmart is taking dollar stores’ customers
▼ + stars: | 2024-09-04 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Dollar Tree also owns the long-struggling Family Dollar chain. While dollar stores once expanded to reach a growing number of financially strapped Americans, they underestimated just how financially strapped many Americans would become. “They missed the fact in tough times the consumer would be looking for consumables.”Meanwhile, Dollar Tree has been weighed down by its purchase of Family Dollar. Earlier this year, Dollar Tree announced that Family Dollar will close more than 900 stores, and it subsequently said it will explore a sale or spinoff of Family Dollar. In previous times of financial stress, Dollar General has seen middle-income and slightly more affluent households trade down into Dollar General to save money.

Persons: Michael Lasser, —, Todd Vasos, Vasos, Mike Creedon, aren’t, “ They’re, ” David D’Arezzo, “, ” Neil Saunders, ” Organizations: New, New York CNN, Walmart, UBS, Dollar General, Dollar, CNN, Target Locations: New York

☆ US must be ready for simultaneous wars with China, Russia, report says
▼ + stars: | 2023-10-12 | by ( Jonathan Landay | ) www.reuters.com time to read: +3 min

The report from the Strategic Posture Commission comes amid tensions with China over Taiwan and other issues and worsening frictions with Russia over its invasion of Ukraine. A senior official involved in the report declined to say if the panel's intelligence briefings showed any Chinese and Russian nuclear weapons cooperation. The report contrasts with U.S. President Joe Biden's position that the current U.S. nuclear arsenal is sufficient to deter the combined forces of Russia and China. "The United States and its allies must be ready to deter and defeat both adversaries simultaneously," the Strategic Posture Commission said. It should also extend the operational lives of ballistic missile submarines and deploy more tactical nuclear weapons in Asia and Europe.

Persons: Ian Dudley, Madelyn, Jon Kyl, Joe Biden's, Jonathan Landay, Lisa Shumaker Organizations: Minuteman, Daylight, Vandenberg Air Force Base, . Air Force, REUTERS, Rights, Democratic, Republican, Thomson Locations: California, U.S, Handout, United States, Russia, China, Taiwan, Ukraine, Russian, Asia, Europe

☆ US Must Be Ready for Simultaneous Wars With China, Russia, Report Says
▼ + stars: | 2023-10-12 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +4 min

By Jonathan LandayWASHINGTON (Reuters) - The United States must prepare for possible simultaneous wars with Russia and China by expanding its conventional forces, strengthening alliances and enhancing its nuclear weapons modernization program, a congressionally appointed bipartisan panel said on Thursday. The report from the Strategic Posture Commission comes amid tensions with China over Taiwan and other issues and worsening frictions with Russia over its invasion of Ukraine. A senior official involved in the report declined to say if the panel's intelligence briefings showed any Chinese and Russian nuclear weapons cooperation. "The United States and its allies must be ready to deter and defeat both adversaries simultaneously," the Strategic Posture Commission said. If such measures are not taken, the United States "will likely" have to increase its reliance on nuclear weapons, the report said.

Persons: Jonathan Landay WASHINGTON, Madelyn, Jon Kyl, Kyl, Joe Biden's, Jonathan Landay, Lisa Shumaker Organizations: Democratic, Republican, Arms Control Association, Pentagon, Columbia Locations: United States, Russia, China, Taiwan, Ukraine, Russian, U.S, Asia, Europe

☆ Dollar Tree and Family Dollar stores will be given 48 hours to fix issues like blocked fire exits and towering stacks of boxes – or they'll be fined $100,000 a day
▼ + stars: | 2023-08-24 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Dollar Tree and Family Dollar stores must fix certain safety problems in 2 days or be fined by OSHA. Dollar Tree's parent company, Dollar Tree, Inc, bought Family Dollar in 2015. A Food and Drug Administration inspection found dead and alive rodents and dead birds inside a Family Dollar facility in Arkansas. The two store chains plan to create new employee training programs and hire more safety staff. Dollar Tree and Family Dollar also agreed to pay $1.35 million in penalties to settle a number of existing similar alleged violations.

Persons: They'll, Mike Creedon Organizations: OSHA, Service, Occupational Safety, Health Administration, Inc, Staff, Drug Administration Locations: Wall, Silicon, Arkansas

☆ Dollar Tree's shares sink, as CEO says 'challenging' economy is pressuring discounter
▼ + stars: | 2023-08-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

Shoppers are seen at the parking lot of a Dollar Tree store in Bloomsburg, Pennsylvania. Shares of Dollar Tree fell on Thursday and hit a 52-week low, after the retailer said customers' shopping lists have largely narrowed to food and necessities. On a call with investors, Dollar Tree CEO Rick Dreiling said customers' shopping patterns reflect a tougher economic backdrop and a reversion to pre-pandemic spending habits. At the Dollar Tree chain, same-store sales increased 7.8% and for Family Dollar, same-store sales rose 5.8% year over year. Separately, U.S. regulators announced a settlement this week with Dollar Tree and competitor Dollar General, which were both issued workplace safety violations.

Persons: Macy's, Locker, Rick Dreiling, Wall, Dreiling, Mike Creedon Organizations: Dollar, Refinitiv Locations: Bloomsburg , Pennsylvania

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