Family Dollar opens 11th DC to support westward expansion
ST. GEORGE, Utah — Family Dollar earlier this week celebrated the grand opening of its 11th distribution center in St. George, Utah.
“Opening our 11th distribution center is an important milestone for us,” stated Howard Levine, Family Dollar’s chairman and CEO. “This facility is ideally located to support our growth in the West, helping us keep our stores well-stocked as we continue to provide customers in this region with great value and convenience.”
Utah Governor Gary Herbert was similarly pleased about the new distribution center. “The State of Utah is proud to welcome Family Dollar’s world-class facility in St. George. Their distribution center will be staffed by Utah’s highly productive workforce and provide hundreds of jobs for southern Utah residents.”
Family Dollar’s distribution center measures 817,000 sq.-ft. and will service up to 800 stores. At full capacity, the facility will ship 40 million cases annually.
Exchange in 2012 paid dividend of $224 million to military morale, welfare and recreation programs
DALLAS — The Army & Air Force Exchange Service board of directors on Thursday announced that the Exchange paid a dividend of $224 million in 2012.
“Historically, roughly two-thirds of Exchange earnings are paid to the services’ morale, welfare and recreation programs with the other third used to build new stores or renovate existing facilities,” stated the Exchange’s senior enlisted advisor Chief Master Sgt. Tony Pearson. “This structure means that authorized customers are, essentially, ‘investors.’”
With a mission to provide quality goods and services at competitively low prices and generate earnings to support quality of life efforts, the dual benefit the Exchange provides military families goes beyond the clothes, electronics and snacks on shelves.
Customers who shop the Exchange’s brick and mortar stores or online at www.shopmyexchange.com help make the military community a better place to live and work. In fact, purchases made in the past 10 years have provided more than $2.4 billion to such military programs as Youth Services, post functions, gyms and aquatic centers.
Safeway increases level of stock repurchase program by $2 billion
PLEASANTON, Calif. — Safeway on Friday announced that its board of directors increased the authorized level of the company’s stock repurchase program by $2 billion. Through the end of the third quarter of 2013, Safeway had approximately $0.8 billion remaining under its previously authorized stock repurchase program.
Safeway’s stock repurchase authorization does not have an expiration date, and the timing of repurchases will depend on market conditions.
Stock repurchases may be effected from time to time through open market purchases or pursuant to a Rule 10b5-1 plan. The stock repurchase program may be accelerated, suspended, delayed or discontinued at any time.