Updated:CHARLOTTE, N.C. —
Family Dollar background (from company’s website):
Founded in 1959 in Charlotte, North Carolina by entrepreneur Leon Levine.
Their core customer is the female head of household in her mid-40s making less than $40,000/year.
Family Dollar offers customers a mix of quality name brand products they use every day; from consumable products such as household paper products and expanded food assortment, to treasures for every home, and even quality apparel for men, woman and children. Also offer a mix of seasonal products, greeting cards, gift-wrap and more.
Family Dollar has 8,000 stores in 46 states and 50,000 team members.
The company’s stock went public in 1970 at $14.50 per share. In 2008, the stock finished as the top performer on the S&P 500. $8.5B in sales and more than $388M in earnings in Fiscal 2011.
Dollar Tree background (from company’s website):
Dollar Tree is an American chain of discount variety stores that sells items for $1. A Fortune 500 company, Dollar Tree is headquartered in Chesapeake, Virginia and operates 4,900 stores throughout the 48 contiguous U.S. states and Canada.
Departments found in a Dollar Tree store include health and beauty, food and snacks, party, seasonal décor, housewares, glassware, dinnerware, household cleaning supplies, candy, toys, gifts, gift bags and wrap, stationery, craft supplies, teaching supplies, automotive, electronics, pet supplies, and books. Most Dollar Tree stores also sell frozen foods and dairy items such as milk, eggs, pizza, ice cream, frozen dinners, and pre-made baked goods.
In 1953 K.R. Perry opened a "Ben Franklin" variety store in downtown Norfolk, Virginia, which he later renamed "K&K 5&10." In 1970 Macon Brock, Doug Perry and K.R. Perry started "K&K Toys" in Norfolk. This mall concept toy store grew to over 130 stores on the East Coast. This store continued to exist and served as the foundation for what would become Dollar Tree.
In 1995, Dollar Tree went public on the NASDAQ exchange in March at $15 a share. Market cap was calculated at $225 million.
In 2008, Dollar Tree earned a place in the Fortune 500. The company also had the No. 1 performing stock in the entire Fortune 500 for that year.
In 2012, the company opened 345 new stores and exceeded $7 billion in sales. Market cap was $9.13 billion at year-end.