Family Dollar



It was the best of times. It was the worst of times. It’s that kind of Dickensian double-speak that personifies the tone of the holiday forecasts this year — forecasts that have really been all over the board.

SEATTLE — The combined store count of the county's largest dollar store chains outnumbers that of the largest retail pharmacy chains as continued economic difficulties drive the channel's growth, according to a new study released Monday by Colliers International.

MATTHEWS, N.C. — Family Dollar is expanding into California for the first time with the opening of four new stores in Ontario, Rialto, Riverside and Fontana. The company's aggressive growth plans also include 450 to 500 new stores to be opened in fiscal 2012.

October sure was a busy month for news in the drug channel. It began in earnest on Oct. 1, the day CVS’ new president officially began his new job. Before the month was over, CVS’ chief merchant left to become president of Family Dollar, and his responsibilities would be carved up between three key executives.

MATTHEWS, N.C. — Family Dollar has appointed a new VP assistant general counsel and assistant secretary.

Family Dollar said its current assistant general counsel Beth MacDonald has been promoted to the new role. She will report to Family Dollar SVP and general counsel Jim Snyder.

MacDonald joined Family Dollar in 2010 as divisional counsel.

WHAT IT MEANS AND WHY IT'S IMPORTANT — Does Family Dollar's expansion of health and beauty items, which contributed to its overall inventory growth during the third quarter, and Ulta's plan to create men's grooming boutiques within most of its nearly 400 stores mean a new competitive threat for drug stores?

(THE NEWS: Inventories swell as Family Dollar boosts beauty. For the full story, click here.)

MATTHEWS, N.C. — A 25% increase in the health and beauty care product assortments at Family Dollar contributed to overall inventory growth during the company’s third quarter, the retailer announced Wednesday morning with the release of its financial results.

In addition to the major expansion of the health and beauty category at 5,000 of the company’s 6,900 stores, Family Dollar said it also expanded assortments of food by 20%, which, combined with the health and beauty care initiative, resulted in an overall increase in inventory levels of 15%.

MATTHEWS, N.C. — Activist investor Bill Ackman, and his Pershing Square Capital Management investment fund, has become the largest owner of Family Dollar stock, according to a regulatory filing.

The filing noted that Ackman has bought a stake of 8.9%.

The news follows just a few months after the retailer turned down an active takeover bid by Nelson Peltz's Trian Fund.