Tomahawk, WI 06/30/2014 (Basicsmedia) – Dollar General Corporation (NYSE:DG) has decided to merge Family Dollar Stores Inc. (NYSE:FDO) with itself as the Dollar stores are not doing well in the recent past. In a recent interview with FOX Business, Carl Icahn, an activist investor mentioned that he had to put the stores chain forcefully for sell out immediately. He added that amongst the present buyers Dollar general is the most potential one, which is also one of its major competitors with reference to its revenue generation.
Also Dollar Store has been facing a key competitive threat from the retail monster Wal-Mart Stores Inc. (NYSE:WMT), which is rapidly increasing its small store set-up, wherein creating difficulties for Dollar Stores to survive. In this case it becomes a necessity for the business to unite with a large entity to get in a better position to contend with Wal-Mart.
JGR & Dollar General Partnership Expansion
Dollar General Corporation (NYSE:DG) and Joe Gibbs Racing announce today that they have entered an agreement wherein both the companies would be expanding their partnership terms. The agreement would be a multiyear one meant for the 2015 NASCAR Sprint Cup Series season, and further activities. Also JGR announces the bond extension of driver Matt Kenseth, wherein he would still be with his No. 20 Dollar General Toyota Camry.
Increase in sponsorship from Dollar General will give an opportunity to the JGR to showcase its brand name for the season opener at Dayton International Speedway.
Dollar General’s CEO Gives Up Under The Industry Merger Pressure
Rick Dreiling, Chairman and Chief Executing Officer of Dollar General Corporation (NYSE:DG) has decided to retire from his designation by March 30, 2015, giving the business a task to find his successor for the most challenging job in the organization. As per the news Rick Dreiling might have taken the step under the pressure wherein Carl Icahn claims to sell the stores chain as its share prices are collapsing regularly.