Family Dollar Stores (FDO)

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Takeover Bid by Peltz FDO was given a bid of as large as $7.6 million for takeover. The bid would place FDO's stock in the projected range of $55 to $60 per share. Underperforming Earnings Estimates FDO predicts that it will have fourth quarter earnings in the range of 46 to 51 cents per share, compared to analysts estimates of 53 cents per share. FDO Reports Q2 FY09 Sales FDO reported an 8.7% increase in net sales and a 6.4% increase in comparable store sales for the second quarter of fiscal 2009. The company also raised its earnings guidance for the quarter, to be released on April 8, 2009. Economic Difficulty continues Price point shoppers continue to search for value- as wallet share may have increased and simultaneously size of walled decreased, SSS subsequently increased Event driven selloff has little to do with performance Increased competition and weak market expected to have a negative impact on Family Dollar Stores JPMorgan expects Family Dollar Stores to face increased competition from players, such as Dollar General and Wal-Mart. This together with a weakening market is expected to have a negative impact on Family Dollar Stores. Dollar General is under the strong management of a PE firm, Kohlberg Kravis Roberts & Co. while Wal-Mart is expected to gain market share among discount retailers after it reduces prices. JPMorgan downgraded the stock from ‘Neutral’ to ‘Underweight’.

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