MATTHEWS, N.C., June 5 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), a discount store chain operating 4,841 stores in 43 states,
reported sales for the four week period ended May 31, 2003, of approximately
$364.1 million, or 13.5% above sales of $320.9 million for the similar period
in the prior fiscal year. Sales in existing stores for the four week period
ended May 31, 2003, increased approximately 3.6% above existing store sales
for the similar period in the prior fiscal year, including increases of
approximately 4.6% in sales of hardlines and approximately 0.5% in sales
of softlines. Sales of apparel and other seasonal merchandise were adversely
impacted by cool, wet weather in portions of the Company's operating area.
For the thirteen week period ended May 31, 2003, sales were approximately
$1,176.9 million, or 15.1% above sales of $1,022.1 million for the similar
period in the prior fiscal year. Sales in existing stores for the thirteen
week period ended May 31, 2003, increased approximately 4.6% above existing
store sales for the similar period in the prior fiscal year, including
increases of approximately 5.4% in sales of hardlines and approximately 2.2%
in sales of softlines.
For the thirty-nine week period ended May 31, 2003, sales were
approximately $3,541.7 million, or 14.1% above sales of $3,104.4 million for
the similar period in the prior fiscal year. Sales in existing stores for
comparable thirty-nine week periods increased approximately 3.5%, including
increases of approximately 4.0% in sales of hardlines and approximately 1.9%
in sales of softlines.
The Company's plan is for sales in existing stores in the thirteen weeks
ending August 30, 2003, to increase in the 3% to 5% range, with sales
increases in each of the June, July and August reporting periods planned to be
in that range.
Family Dollar will host a conference call on Wednesday, June 25, 2003, at
10:00 A.M. ET to discuss the financial results for the third quarter ended
May 31, 2003. If you wish to listen, please call (334) 420-1230 at least 10
minutes before the call is scheduled to begin. A replay of the call will be
available from 12:00 Noon ET, June 25, 2003, until 6:00 P.M. ET, June 26,
2003, by calling 703-925-2474 and entering the access code 3574760. 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, June 25,
2003.
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,
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
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Audio:http://www.familydollar.com/investors.asp
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/300875.html
CONTACT:
George R. Mahoney, Jr., Executive Vice
President of Family Dollar Stores, Inc., +1-704-814-3252
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