Dollar General Not Quitting on Bid for Family Dollar
Dollar General met Wall Street expectations with its second-quarter earnings and its plan to continue a bid to acquire competitor Family Dollar Stores. Dollar General said its second quarter net income rose more than 2 percent to $251 million. In the same period last year, the discount retail chain had net income of $245 million. Sales totaled $4.7 billion, up about 7 percent over $4.4 billion a year ago. And even though Family Dollar earlier this month rejected a bid from its larger competitor, Dollar General CEO and Chairman Rick Dreiling said the company remains focused on sealing that deal.