Family Dollar Gets More Offers from Rivals
The U. S Family Dollar is a variety store chain that is operational in about 8,200 locations. It is the second largest retailer of its kind in the entire United States. This is a popular outlet for low-income customers mainly in the urban areas of the U. S. Now the chain is a target of a cash takeover deal of $9 billion. The offer has come from rival Dollar General with another one of cash and stock offer of $8.5bn from Dollar Tree.
Both the rivals are cashing in on the popularity of the deep discount store along with the huge section of people facing poverty in America.
Retailers who cater to the mid market consumers such as Wal-Mart Stores, J C Penney Company and Macy's have been facing a tough time and is has been struggling through the past few years as the American consumers are taking time to jump back to their lavish spending ways after the recession years.
Target said on Wednesday that it was trimming down its full-year earnings forecast and is also cutting down on prices.
In the midst of careful spending by the customers the popularity of the well known dollar stores is increasing. A London based researcher Euromonitor International said that increasing amount of shopping by the 46.5 million Americans who are living below the poverty line has helped in increasing the US market for deep discount stores annually by to $48.2bn between the years 2008 and 2013.
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Oshidori International exits Japanese casino race, citing serious ethical irregularities
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain
- TenneT adds more electric BMWs to study use of EVs to support power grids