The Traderszone Network

Published in TZ Latest News 9 October, 2014 by The TZ Newswire Staff

Family Dollar fourth quarter profit drops, same store sales improve marginally

Discount retailer Family Dollar Stores Inc (FDO.N), which is trying to ward off a hostile bid from rival Dollar General Corp (DG.N), said its fourth-quarter profit slid 66 percent hurt by inventory markdowns, restructuring charges and merger fees. Family Dollar, which has agreed to sell itself to smaller rival Dollar Tree (DLTR.O) for a lower cash-and-stock deal of $8.5 billion, rejected Dollar General’s $9.1 billion all-cash bid saying the offer did not address anti-trust concerns.

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