Family Dollar Thursday said its Q4 same-store sales rose just .3% after three quarters of falling sales.
The figure beat estimates but that was in the context of falling margins. The chain this spring slashed prices on 1,000 items at an annual cost of $50 million to attract more shoppers to little avail.
CEO Howard Levine said that fiscal 2014 was one of the company’s most difficult years, and that it wouldn’t provide financial guidance because of its pending deal with rival Dollar Tree.
Family Dollar is struggling, and despite its efforts to trim prices, it hasn’t had much luck enticing shoppers in. That deterred neither Dollar Tree, which has agreed to buy the company for $8.5 billion, nor Dollar General, which has offered a sweeter $9.1 billion. Family Dollar has so far rejected Dollar General’s bid over antitrust concerns.