Key Developments: Family Dollar Stores Inc (FDO)
63.20USD
19 Jun 2013
$-0.88 (-1.37%)
$64.08
$64.18
$64.39
$63.18
774,032
1,367,098
$73.78
$54.06
Latest Key Developments (Source: Significant Developments)
Family Dollar Stores Inc Declares Regular Quarterly Dividend
Family Dollar Stores Inc announced that Board of Directors has declared a regular quarterly cash dividend on the Company`s common stock of $0.26 per share, payable July 15, 2013, to shareholders of record at the close of business on June 14, 2013. Full Article
Family Dollar Stores Inc Issues FY 2013 Revenue Guidance In Line with Analysts' Estimates-Conference Call
Family Dollar Stores Inc announced that for fiscal 2013, sales are expected to exceed $10 billion. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $10.477 billion for fiscal 2013. Full Article
Family Dollar Stores Inc Comments On Q3, Q4, H2, FY 2013 Store Sales Outlook; Issues Q4 2013 EPS Outlook In Line With Estimates; Lowers FY 2013 EPS Outlook; Issues Q3 2013 EPS Outlook Below Estimates
Family Dollar Stores Inc announced that sales in more discretionary categories will continue to be pressured in the second half of 2013 and comparable store sales in the second half of 2013 will increase between 2% and 4%. The Company expects comparable store sales in the third quarter 2013 will be in the lower end of this range and comparable store sales in the fourth quarter 2013 will be in the upper end of this range. The Company anticipates that many of the sales and margin trends that occurred in the first half 2013 will continue in the third quarter 2013 and EPS will be between $0.98 and $1.08 per share. As the Company anniversaries many of the sales-driving initiatives launched in the fourth quarter of 2012, the Company expects that operating margin will increase and that earnings per diluted share will be between $0.85 and $0.95 per share. The Company now expects EPS in fiscal 2013 will be between $3.73 and $3.93. The Company's outlook for fiscal 2013 is based on an increase in comparable store sales of between 3% and 4%. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $1.18 for third quarter of 2013; EPS of $0.88 for fourth quarter of 2013 and EPS of $3.98 for fiscal 2013. Full Article
Briscoe Law and Powers Taylor Investigate Possible Breaches Of Fiduciary Duty by Officers And Directors Of Family Dollar Stores Inc
Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announced that a federal class action lawsuit has been filed against Family Dollar Stores, Inc. . The firms are investigating additional legal claims against the officers and Board of Directors of Family Dollar during the period of October 3, 2012 to January 2, 2013 (the Class Period). Full Article
Family Dollar Stores Inc Declares Regular Quarterly Dividend
Family Dollar Stores Inc announced that Board of Directors has declared a regular quarterly cash dividend on the Company`s common stock of $0.26 per share, payable April 15, 2013, to shareholders of record at the close of business on March 15, 2013. Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Family Dollar Stores Inc
Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the Western District of North Carolina on behalf of all persons or entities that purchased the common stock of Family Dollar Stores Inc between October 3, 2012 and January 2, 2013 (the Class Period). The Complaint alleges that defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that: (a) the Company's intentional efforts to increase sales of lower-margin consumables, such as cigarettes and other tobacco products, Pepsi drinks, gift cards, magazines and other high-turnover merchandise, in order to increase foot traffic and better compete against chains such as Dollar General Corp and Wal-Mart Stores Inc., had significantly diminished profits in the first quarter of 2013 (ended November 24, 2012) and in December 2012; (b) significant price cuts undertaken in an attempt to move unsalable inventory had also significantly diminished profits in the first quarter of 2013 and December 2012; (c) Family Dollar's sales of more profitable discretionary items such as toys and other household goods had significantly underperformed expectations in the first quarter of 2013 ended November 24, 2012 and during December 2012; (d) bloated inventories in Family Dollar's stores would significantly weight down 2013 profitability. Full Article
Bernstein Liebhard LLP Announces Class Action Against Family Dollar Stores Inc
Bernstein Liebhard LLP announced that a class action has been commenced in the United States District Court for the Western District of North Carolina on behalf of a class (the Class) of purchasers of Family Dollar Stores Inc (Family Dollar or the Company) common stock between October 3, 2012 and January 2, 2013 (the Class Period). The complaint charges Family Dollar and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Family Dollar operates a chain of approximately 7,500 general merchandise retail discount stores in 45 states, which sell consumables, home products, apparel and accessories, and seasonal and electronics products. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding Family Dollar's then-present sales demand, profitability and financial results for the first quarter of 2013, ended November 24, 2012, and for December 2012. As a result of defendants' false statements, Family Dollar's stock traded at artificially inflated prices throughout the Class Period, reaching a high of $71.20 per share by November 30, 2012. Meanwhile, Family Dollar's senior executives cashed in, selling their own Family Dollar stock at artificially inflated prices, including its Chief Executive Officer who sold more than $15.6 million worth of his Family Dollar stock during the Class Period. Full Article
Rigrodsky & Long, P.A. Announces Securities Fraud Class Action Lawsuit Has Been Filed Against Family Dollar Stores Inc
Rigrodsky & Long, P.A. announced that a complaint has been filed in the United States District Court for the Western District of North Carolina on behalf of all persons or entities that purchased the common stock of Family Dollar Stores Inc(Family Dollar or the Company) between October 3, 2012 and January 2, 2013 (the Class Period), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the Complaint). Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Family Dollar Stores Inc
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at Family Dollar Stores, Inc. The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company's efforts to increase sales on low margin goods had caused a significant reduction in Family Dollar's profits for the first quarter of fiscal year 2013 and December 2012; (2) price cuts initiated for the purpose of moving less salable inventory had also diminished profits for the first quarter of fiscal year 2013 and December 2012; (3) Family Dollar's sales of more profitable discretionary goods had significantly underperformed expectations in the first quarter of 2013 and during December 2012; and (4) excess inventories in Family Dollar's stores would significantly weigh down 2013 profitability. Full Article
Family Dollar Stores Inc Increases Regular Quarterly Dividend By 23.8% And Announces Additional Share-repurchase Authorization Of $300 Million-DJ
Dow Jones reported that Family Dollar Stores Inc announced that the Company's Board of Directors has increased the amount of the regular quarterly dividend payment to $0.26 per share, an increase of 23.8% from the preceding quarterly cash dividend of $0.21 per share. The increase will be effective with the declaration of the next quarterly dividend. In addition, the Company's Board of Directors has authorized the Company to purchase an additional $300 million of its common stock through its existing share-repurchase program. The Company intends to fund these repurchases through cash from operations. This new authorization is in addition to the Company's current share-repurchase authorization. Prior to the new authorization, the Company had existing authorization to repurchase approximately $94 million of its common stock. Full Article
Delayed tax refunds hurt Family Dollar results
- Family Dollar Stores Inc said on Wednesday that sales have perked up as spring weather has finally arrived, but reported a weaker-than-expected quarterly profit which it blamed on a delay in shoppers getting their tax refunds.
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