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Family. My Family Dollar.
With 8,100 locations, it is the second largest retailer of its type in the United States. Family Dollar is
Carolina, where it employs 1,400 people.
demanded that Family
Dollar be immediately put up for sale.
On July 28,
announced that it would
purchase Family Dollar for $8.5 billion.
The sale delivered a
windfall to the company's biggest shareholder Carl Icahn, who acquired his 9.4 percent stake in June
On January 22, 2015,
Family Dollar shareholders approved the Dollar Tree bid.
Family Dollar was
founded in 1959 by
Leon Levine, a
21-year-old entrepreneur. In November of that year, the company's first store was opened,
Carolina. In 1961, their first store in
opened, followed by
were opened in 1962 and 1965, respectively. During the 1960s, the store company was largely a southern United
States operation. By 1969, there were fifty stores in Charlotte alone.
The 1970s were
growing years for the store chain. In 1970, Family Dollar's stock went public for the first time, at $14.50 per
share. In 1971, the chain's 100th store opened, followed by their 200th in 1974 and their 300th in 1978. Also in
1974, a distribution center was opened in
Carolina. In 1979, Family Dollar stock began trading at the
New York Stock
In 1981, the chain's 400th store was opened, followed by a 500th store in
1982 and a 700th in 1983. The 1980s saw expansion at a wider scale for the company, and, by 1989, 1,500 stores
The 1990s saw the
pace of expansion slow down compared to the 1980s, with 1,000 stores opened. The company opened distribution
Since 2000, the pace of growth increased significantly, with the addition of about 3,500 new stores, and new
distribution centers opening in
In 2001, Family
Dollar joined the
index. In 2002, the company joined the
list of largest
publicly held companies.
When Leon Levine
retired in 2003, his son Howard R. Levine succeeded him as
CEO, keeping this
multi-billion dollar company in the family.
In March 2005, Family Dollar restated the company's fiscal 2000 to fiscal
2004 earnings per share downward by 2 cents to 3 cents a year, to correct lease-accounting
As of August 2011,
there were 7,000 stores in 44 states. According to their website, in 2005 Family Dollar opened 500 new stores,
350 more in 2006, and an additional 300 in 2007. According to the Company's 2013 Corporate Profile, in 2010
Family Dollar opened 200 new stores, 300 more in 2011, 475 in 2012, and an additional 500 in 2013. On October 3,
2012, Family Dollar said they will open 500 stores in 2013.
day, Family Dollar partnered with Healthways.
Dollar operates 11 distribution centers — the latest of which opened inSt. George, Utah,
on October 16, 2013.
Family Dollar Properties For Sale Across the