Since Family Dollar’s board of directors unanimously rejected Dollar General’s second and sweetened tender offer from Sept. 2, Dollar General has decided to make the tender offer directly to the company’s shareholders.
Recently, I was out shopping with my children and we saw a pay phone bolted to the wall near the checkout line of a store. It didn’t appear to be operational, but there it stood. “What’s that?” my 11-year-old daughter asked.
Dollar Tree and Family Dollar have amended their merger agreement to include a commitment by Dollar Tree to divest as many stores as necessary or advisable to obtain antitrust clearance for the previously announced cash and stock transaction.
Family Dollar has rejected the revised proposal made by Dollar General on Sept. 2 on the basis of antitrust regulatory considerations. The Dollar General offer may be financially superior, the dollar store operator noted, but it's not likely to pass muster with the Federal Trade Commission.
Dollar General made the case for the superiority of its Family Dollar takeover bid with the release of second quarter results that revealed consistency as well some deceleration in sales and profit growth.
Dollar Tree delivered its 26th consecutive quarter of positive comparable store sales growth in the second quarter, but profit declined 2.6% thanks to increased freight costs and investments in higher-value products.
Newegg has turned to Visa to streamline the checkout process for its customers. The leading electronics-focused e-retailer will leverage the Visa Checkout payment service to simplify the process of buying online.
Paying online got easier for Visa cardholders this week thanks to its launch of Visa Checkout. The service will allow users to register their card and then complete their purchases by entering their Checkout username and password.
The National Retail Federation (NRF) is supporting the Marketplace and Internet Tax Freedom Act. The legislation was introduced by Senators Michael Enzi, Richard Durbin, Lamar Alexander, Heidi Heitkamp, Susan Collins and Mark Pryor.
Green Dot Corporation has hired Thien Truong as SVP of business development and sales. Truong comes to Green Dot from American Express, where he most recently served as VP of retail and mall channels for the U.S. Payment Options group.
AutoZone shares have traded above $500 for most of the year but the company remains an aggressive purchaser of its own stock and recently authorized the expenditure of $750 million to buy even more shares.
Father’s Day is already the smallest of gift-giving holidays and this year Americans are expected to spend even less, according to the National Retail Federation’s (NRF) 2014 Father’s Day Spending Survey, conducted by Prosper Insights & Analytics.
Undeterred by bad weather and competitive pressures that took a toll on its first quarter performance, Dollar General is pressing ahead with plans for 700 new stores, recently opened its 12th distribution center and believes its full year profit forecast is attainable.
Customers can now shop on Amazon for collectible U.S. coins from industry leading dealers including Stack’s Bowers Galleries, Kagin’s, David Lawrence Rare Coins and Liberty Coin — all from the newly launched Collectible Coins store.
MasterCard is in the process of acquiring Pinpoint Pty. Ltd., an Australian provider of loyalty and rewards services to financial institutions across the Asia Pacific region. The transaction is expected to close in the second quarter of 2014.