family dollar stores (FDO) Key Developments
Family Dollar Stores, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended February 28, 2015
Apr 8 15
Family Dollar Stores Inc. reported unaudited consolidated earnings results for the second quarter and six months ended February 28, 2015. The company reported that net income per diluted share in the second quarter of fiscal 2015 ended February 28, 2015, was $0.67 compared to $0.80 in the second quarter of fiscal 2014 ended March 1, 2014. Total net sales in the second quarter of fiscal 2015 increased 3.0% to $2.80 billion from $2.72 billion in the second quarter of fiscal 2014. Comparable store sales for the 13-week period increased 0.5% as a result of an increase in the number of customer transactions which was offset by a decrease in the average customer transaction value. Excluding these merger expenses, adjusted operating profit in the second quarter of fiscal 2015 was $125.8 million, or 4.5% of sales, as compared to $140.3 million, or 5.2% of sales, in the second quarter of fiscal 2014. Adjusted net income for the second quarter of fiscal 2015 was $84.9 million, excluding fees related to the company’s pending merger with Dollar Tree, compared with $90.9 million in the second quarter of fiscal 2014. Operating profit was $117.548 million against $140.257 million a year ago. Income before income taxes was $118.236 million against $140.457 million a year ago. Net income was $76.706 million against $90.869 million a year ago. Adjusted operating profit was $125.778 million against $140.257 million a year ago. Adjusted diluted net income per common share was $0.74 against $0.80 diluted per share a year ago.
Capital expenditures were $176.5 million in the first half of fiscal 2015 as compared to $219.7 million in the first half of fiscal 2014. The reduction in capital expenditures was primarily due to fewer new store openings and a reduction in technology investments. These reductions were partially offset by increased investments in security equipment and merchandise fixtures in existing stores. Net sales were $5,354.690 million against $5,216.312 million a year ago. Operating profit was $188.207 million against $260.576 million a year ago. Income before income taxes was $189.229 million against $261.317 million a year ago. Net income was $118.083 million or $1.03 diluted per share against $168.896 million or $1.47 diluted per share a year ago. Net cash provided by operating activities was $102.801 million against $111.924 million a year ago. Adjusted operating profit was $205.298 million against $260.576 million a year ago. Adjusted net income was $135.174 million or $1.18 diluted per share against $168.896 million or $1.47 diluted per share a year ago.
Family Dollar to Open 350 Stores in Fiscal 2015
Apr 8 15
Family Dollar plans to open 350 stores in fiscal 2015, down from 525 a year ago.
Family Dollar Stores And Dollar Tree Mulls Sale Of Stores
Apr 7 15
Family Dollar Stores Inc. (NYSE:FDO) and Dollar Tree, Inc. (NasdaqGS:DLTR) are seeking sale of Family Dollar Stores. Dollar Tree, Inc. said on April 7, 2015 that it expects to be able to complete its purchase of competitor Family Dollar in May 2015 and said it will have to sell about 340 Family Dollar locations to close the deal. Dollar Tree said the Federal Trade Commission is almost finished reviewing the $8.5 billion acquisition and has identified 340 stores that it wants the company to sell in order to preserve competition for consumers. Dollar Tree said all or almost all of those stores will be Family Dollar locations. It said the stores have about $47.4 million in operating income. Dollar Tree company said it is in talks with potential buyers for those stores.
Family Dollar Stores Inc. to Report Q2, 2015 Results on Apr 08, 2015
Mar 31 15
Family Dollar Stores Inc. announced that they will report Q2, 2015 results at 8:00 AM, US Eastern Standard Time on Apr 08, 2015
Family Dollar Stores Recall Tough Treadz Auto Carrier Toy Sets Due to Laceration Hazard
Feb 4 15
Family Dollar Stores Inc. announced recall Tough Treadz Auto Carrier toy sets due to laceration hazard. This recall involves a plastic toy truck with a plastic case that holds 6 die-cast metal toy cars in assorted colors. The truck is 14 inches long x 3 inches wide x 5 inches high. The cab of the truck comes in black, blue or red. The package is labeled as 'Tough Treadz Auto Carrier' and has a white sticker in the upper right-hand corner with "$5" and 'SKU 1004247' printed in red. The UPC code appears on a label on the back stating 'Made in China'. The following UPC codes are included in this recall: 678565114083, 678565114090, 678565114106.