World News: 17:23 GMT Friday 27th June 2014. [Yahoo Business News Feed via SPi World News]
Dollar General Corp said CEO Rick Dreiling will retire next year, throwing into doubt a proposal by Carl Icahn to merge the discount retailer with Family Dollar Stores Inc . Dollar General's shares fell as much as 8 percent and Family Dollar's as much as 4 percent in morning trading on Friday. Both companies face increasing competition from big-box retailers such as Wal-Mart Stores Inc that are also competing for business from low-income families, who themselves have been hit by cuts in benefits such as food stamps. Icahn said earlier this month he was considering pushing Family Dollar to sell itself to Dollar General to help the companies cope with intensifying competition.
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