MATTHEWS, N.C., March 4 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), a discount store chain operating 5,175 stores in 43 states,
reported sales for the four week period ended February 28, 2004, of
approximately $404.3 million, or 14.0% above sales of $354.8 million for the
similar period in the prior fiscal year. Sales in existing stores for the
four week period ended February 28, 2004, increased approximately 4.3% above
existing store sales for the similar period in the prior fiscal year,
including an increase of approximately 5.9% in sales of hardlines and a
decrease of approximately 0.4% in sales of softlines.
For the thirteen week period ended February 28, 2004, sales were
approximately $1,402.8 million, or 11.7% above sales of $1,256.2 million for
the similar period in the prior fiscal year. Sales in existing stores for the
thirteen week period ended February 28, 2004, increased approximately 2.2%
above existing store sales for the similar period in the prior fiscal year,
including an increase of approximately 3.2% in sales of hardlines and a
decrease of approximately 1.2% in sales of softlines.
For the twenty-six week period ended February 28, 2004, sales were
approximately $2,647.5 million, or 12.0% above sales of $2,364.8 million for
the similar period in the prior fiscal year. Sales in existing stores for the
twenty-six week period ended February 28, 2004, increased approximately 2.4%
above existing store sales for the similar period in the prior fiscal year,
including an increase of approximately 3.1% in sales of hardlines and a
decrease of approximately 0.1% in sales of softlines.
The Company's plan is for sales in existing stores in the third quarter
ending May 29, 2004, to increase in the 3% to 5% range. Sales in existing
stores in the March and May reporting periods are planned to be at the higher
end of the range and sales in existing stores in the April reporting period
are planned to be slightly below the low end of the range.
Family Dollar will host a conference call on Tuesday, March 23, 2004, at
10:00 A.M. ET to discuss the financial results for the second quarter ended
February 28, 2004. If you wish to listen, please call (703) 736-7292 at least
10 minutes before the call is scheduled to begin. A replay of the call will
be available from 1:00 P.M. ET, March 23, 2004, through March 24, 2004, by
calling 703-925-2474 and entering the access code 4021489. There also will be
a live webcast of the conference call that can be accessed
at http://www.familydollar.com/investors.asp or by clicking on the webcast
icon on the "Investors" page at http://www.familydollar.com . A replay of the
webcast will be available at the same address after 2:00 P.M. ET, March 23,
2004.
Certain statements contained in this press release which are not
historical facts are forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements address the Company's plans and activities or
events which the Company expects will or may occur in the future. A number of
important factors could cause actual results to differ materially from those
expressed in any forward-looking statements. Such factors include, but are
not limited to, competitive factors and pricing pressures, general economic
conditions, the impact of acts of war or terrorism, changes in consumer demand
and product mix, unusual weather that may temporarily impact sales, inflation,
merchandise supply constraints, general transportation delays or
interruptions, dependence on imports, changes in currency exchange rates,
trade restrictions, tariffs, quotas, and freight rates, availability of real
estate, costs and delays associated with building, opening and operating new
distribution facilities and stores, costs and potential problems associated
with the implementation of new systems and technology, including supply chain
systems and electronic commerce, changes in energy prices and the impact on
consumer spending and the Company's costs, legal proceedings and claims,
changes in health care and other insurance costs, and the effects of
legislation on wage levels and entitlement programs. Consequently, all of the
forward-looking statements made are qualified by these and other factors,
risks and uncertainties. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of this
release. The Company does not undertake to publicly update or revise its
forward-looking statements even if experience or future changes make it clear
that projected results expressed or implied in such statements will not be
realized.
SOURCE Family Dollar Stores, Inc.
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Related links:
http://www.familydollar.com
http://www.familydollar.com/investors.asp
Company News On-Call:
http://www.prnewswire.com/comp/300875.html
CONTACT:
George R. Mahoney, Jr., Executive Vice
President of Family Dollar Stores, Inc., +1-704-814-3252
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