(Adds tweet from Icahn, details, background)
June 6 (Reuters) - Activist investor Carl Icahn has reported a 9.39 percent stake in Family Dollar Stores Inc and said he could push for major changes or a sale of the company.
Shares of Family Dollar, struggling under declining sales and profit, rose as much as 10 percent in extended trading on Friday.
Icahn, known for taking big stakes in companies and pushing for management change, said in a regulatory filing that he may seek board representation in Family Dollar. (r.reuters.com/nev89v)
Icahn said in the filing that he plans to talk to the convenience store operator about strategies, which may include the exploration of strategic alternatives.
“Disclosed a 9 percent position in Family Dollar today. Hope to continue our streak of value enhancement,” Icahn posted on Twitter.
Family Dollar Chief Executive Howard Levine had disclosed a 8.18 percent stake in the company last November, according to Thomson Reuters data.
Family Dollar, which has trailed rivals such as Tennessee-based Dollar General Corp and Dollar Tree Inc , said in April it would close 370 stores and slow its expansion of new stores.
The retailer, which caters to lower-income shoppers, many of whom live paycheck to paycheck, has slashed prices in an effort to win customers.
Reporting By Sampad Patnaik and Shailaja Sharma in Bangalore; Editing by Maju Samuel and Leslie Adler