Discount retailer Dollar Tree Inc raised its sales outlook for the year after recording its strongest growth in quarterly same-store sales since 2011.Shares of the company, which has agreed to purchase Family Dollar Stores Inc for $8.5 billion, rose 3 percent premarket.Dollar General Corp countered with a $9.1 billion bid that has been rejected by Family Dollar over antitrust concerns.Dollar Tree, which like other discounters is facing competition from small-format stores opened by big retailers such as Wal-Mart Stores Inc, will become the largest dollar store chain if it pulls off its deal with Family Dollar.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 1.03% or $0.64/share to $62.63. In the past year, the shares have traded as low as $49.59 and as high as $62.72. On average, 2468510 shares of DLTR exchange hands on a given day and today's volume is recorded at 3907360.
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 0.51% or $-0.4/share to $78.45. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 1330430 shares of FDO exchange hands on a given day and today's volume is recorded at 3538683.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT traded higher by 1.43% or $1.2/share to $84.99. In the past year, the shares have traded as low as $72.27 and as high as $85.64. On average, 6910310 shares of WMT exchange hands on a given day and today's volume is recorded at 12189846.
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