[ad_1]
April 5 (Reuters) – Activist investor Starboard Value LP announced Friday that it was withdrawing its candidacy for the board of directors of Dollar Tree Inc., saying it was delighted with the the company's decision to test several price levels in its stores.
In January, Starboard lobbied for changes in the discount chain, seeking to capitalize on criticism from some investors and badysts that Dollar Tree should consider raising prices for certain products to more than one. dollar.
The hedge fund, with its director appointments, had urged Dollar Tree to explore all the alternatives for its Family Dollar business, including a sale.
Last month, the company announced plans to close more than a hundred Family Dollar stores and also announced better-than-expected fourth quarter sales.
"We continue to have constructive conversations with management and to recognize their progress, as well as the significant increase in shareholder value through promises made since our involvement," Starboard said. (Report of Manas Mishra in Bengaluru, edited by G Crosse)
Source link
