Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MATTHEWS, NC-The Family Dollar chain of discount stores plans to open 100 to 120 new locations during the fourth quarter as it continues an expansion that is producing higher sales and earnings. Company officials discussed growth plans and the latest financial results during the chain’s quarterly conference call with financial analysts Thursday.

The plans for expanding in the fourth quarter follow a third-quarter expansion in which Family Dollar added 71 locations to its store count during the quarter, the net result of opening 82 new locations and closing 11. As it expands, Family Dollar believes that its customers and those of other retailers need to take into account that shoppers are making fewer trips of late because of high gasoline prices.

“The company believes that customers continue to consolidate shopping trips in response to higher energy costs,” Howard Levine, chairman and CEO, commented during the conference call.

For the third quarter ended May 27, the company’s net income climbed 5.8% to $56.9 million compared with net income of $53.8 million for the third quarter of fiscal 2005. On a per-share basis, the income grew to 37 cents from 32 cents.

Sales increased to $1.57 billion, or 9.9% above sales of approximately $1.43 billion for the third quarter of fiscal 2005, while comparable store sales increased approximately 3.7%. Family Dollar operates more than 6,000 stores in a 44-state area ranging from Idaho to Maine, southeast to Florida, and southwest to Arizona.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.