MATTHEWS, N.C., April 22 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), has announced that the Company's Board of Directors has
authorized the Company to purchase from time to time, as market conditions
warrant, up to an additional 5,000,000 shares of the Company's Common Stock.
The purchases could be in the open market or in private transactions or
otherwise. The Board of Directors authorized the purchase as the Board
believes that the Common Stock is a good investment and the repurchase program
builds value for shareholders.
The Board of Directors in October 2002, authorized the Company to purchase
up to 5,000,000 shares of the Company's Common Stock. Under such
authorization, 2,202,200 shares were purchased in the fiscal year ended
August 30, 2003, and 1,827,000 shares have been purchased in the current
fiscal year to date, leaving 970,800 shares remaining to be purchased. With
today's authorization by the Board of Directors to purchase up to an
additional 5,000,000 shares of Common Stock, the Company is now authorized to
purchase up to a total of 5,970,800 shares of Common Stock.
Family Dollar Stores, Inc. is a discount store chain operating
5,216 stores in 43 states. The Company has 170,919,113 shares of Common Stock
outstanding, and the Common Stock is traded on the New York Stock Exchange.
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 or distribution 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 their 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 and regulations 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.
 back to top
Related links:
http://www.familydollar.com
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
|
