Family Dollar stores were small — never more than 8,000 square feet — so shoppers could zip in and out. By the mid-2000s, Family Dollar had more than 5,000 locations and sales topped $5 billion. Competitors also emerged, including Dollar General, which bought Family Dollar in 2015 for $8.5 billion. Having heard about a retailer in Tennessee selling everything for less than $1, Mr. Levine decided to slightly innovate on that concept. Mr. Levine and his wife rarely gave interviews, but in 2004 they agreed to speak with a Charlotte Observer reporter.

Source: Forbes April 11, 2023 07:32 UTC