Family Dollar beats 2Q profit forecasts

April 8, 2015 5:38 PM

64 0

Family Dollar, which is in the process of being bought by rival Dollar Tree Inc., reported a 16 percent drop in its fiscal second-quarter net income as severe winter weather hurt sales. But its adjusted earnings and revenue met Wall Street expectations and its shares rose slightly.

In January, Family Dollar's shareholders approved Dollar Tree's $8.5 billion takeover bid, despite higher competing offers from Dollar General Corp. On Tuesday, Dollar Tree said that it expects to close the deal in May and said it will have to sell about 340 of Family Dollar's 8,100 stores to gain F...

Read more

To category page