Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MATTHEWS, NC-With the current economy challenging its lower-income customers, Family Dollar Stores will keep a tight rein on store expansion while focusing more on consumables, executives said at its first quarter 2008 conference call. Store expansion will continue at about 2% to 4% this year until operating margins improve, said Howard R. Levine, chairman and CEO.

“New store growth continues to be an important priority for us,” Levine said. During the first quarter of fiscal 2008, the company opened 67 new stores and closed 20 stores.

In addition, the company is increasing the store space allotted to food and other consumable items to drive traffic to the stores more frequently. The reallocation has already taken place in 2,700 units, with another 2,700 stores to be converted in the spring.

Sales for the first quarter of fiscal 2008 were approximately $1,683.0 million, up 5.2% from the first quarter of fiscal 2007. Comparable store sales rose 1.0% Net income for the quarter decreased 4.1% to $51.9 million.

Family Dollar operates more than 6,400 stores in 44 states.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.