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Family Dollar Stores, Inc. is an American variety store chain. With over 8,000 locations in all states except Alaska and Hawaii, it was the second largest retailer of its type in the United States until it was acquired by Dollar Tree in 2015 when its headquarters operations were moved from Matthews, a suburb of Charlotte, North Carolina, to Chesapeake, Virginia, located in South Hampton Roads.
In 1996, Levine rejoined Family Dollar and served in various positions until he became Chief Executive Officer in August 1998. [4] In July 2014, Levine oversaw the buyout of Family Dollar by Dollar Tree in a deal totaling $8.5 billion. [5] Levine remained with the company following the merger and was appointed to Dollar Tree's board of ...
As the chain expanded throughout the Southeast, he began naming the stores Fred's Dollar Stores after his older brother, Fred. In 1953, Fred's moved its corporate headquarters to Memphis, Tennessee. Fred's primarily competed against national, deep-discount chains Dollar General, Family Dollar, and Dollar Tree, and against independently owned ...
As Family Dollar struggled, rival Dollar General boomed. Dollar General has opened about 1,000 stores a year, making it the fastest-growing retailer in the United States. The company has around ...
On March 13, parent company, Dollar Tree, announced in a press release it plans to shutter nearly 1,000 Family Dollar stores after seeing declining sales in 2023.
Family Dollar's mix of name brands, and quality, private brand merchandise, appeals to shoppers in more than 7,600 stores in rural and urban settings across 45 states.
On August 18, 2014, Dollar General lodged a competing bid of $9.7 billion against Dollar Tree for Family Dollar. The bid was rejected on August 20, 2014, by the Family Dollar board, which said it would proceed with the deal with Dollar Tree. [35] On June 3, 2015, Chief Operating Officer Todd Vasos replaced Rick Dreiling as chief executive.
Family Dollar has struggled since Dollar Tree bought it in 2015 for $8.5 billion. Dollar Tree believed acquiring Family Dollar would help it compete against bigger rivals. But it misjudged the deal.