Dollar General Corp, the No.1 U.S. deep discount retailer, said it remained committed to acquiring rival Family Dollar Stores Inc and reported a 7.5 percent rise in quarterly sales. Family Dollar last week rejected a $9 billion takeover offer from Dollar General that it said could run foul of competition law, opting instead for a smaller bid from Dollar Tree Inc ."The financial benefits of our offer to Family Dollar shareholders are indisputable," Dollar General Chief Executive Rick Dreiling said in a statement on Thursday.The company's net income rose to $251.3 million, or 83 cents per share, in the second quarter ended Aug. 1, from $245.5 million, or 75 cents per share, a year earlier.Net sales rose to $4.72 billion from $4.39 billion, helped by higher sales of tobacco products, candy and snacks. Same-store sales rose 2.1 percent.
Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG traded higher by 0.28% or $0.18/share to $63.70. In the past year, the shares have traded as low as $53.00 and as high as $65.99. On average, 6826650 shares of DG exchange hands on a given day and today's volume is recorded at 6217049.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.09% or $0.05/share to $53.56. In the past year, the shares have traded as low as $49.59 and as high as $60.19. On average, 2847450 shares of DLTR exchange hands on a given day and today's volume is recorded at 2482710.
Family Dollar Stores, Inc. (Family Dollar) operates a chain of more than 7,900 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores. Shares of FDO fell by 0.25% or $-0.2/share to $79.80. In the past year, the shares have traded as low as $55.64 and as high as $80.20. On average, 3139700 shares of FDO exchange hands on a given day and today's volume is recorded at 1105301.
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