The acquisition of Family Dollar in the second quarter led Dollar Tree Inc. to report quarterly sales that were up more than 48% from a year ago.
Dollar Tree Inc. has promoted one of its senior executives to be its next chief operating officer.
Dollar Tree's yearlong takeover saga, in which the retailer's offer to buy Family Dollar prompted a separate buyout attempt from Dollar General, is finally over.
Dollar Tree has agreed to sell 330 of its stores to the private-equity firm Sycamore Partners in order to get regulatory approval for its $8.5 billion purchase of Family Dollar.
Cold weather in February caused profits to slide at Family Dollar Stores Inc. ahead of its impending merger with Dollar Tree.
As Dollar Tree prepares to absorb the costs associated with its pending acquisition of Family Dollar, the discounter beat Wall Street estimates of earnings for the fourth quarter.
Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.
Dollar Tree intends to expand its 603,000-sq.-ft. distribution center in Marietta, Oklahoma by an additional 400,000 sq. ft.
Profits surged, sales momentum slowed
The discount store channel continues to thrive, as evidenced by Dollar Tree's strong second-quarter performance.
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