MATTHEWS, N.C., July 7 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO) reported that sales for the five weeks ended July 2, 2005,
increased 8.6% to approximately $566.9 million from $521.9 million for the
five weeks ended July 3, 2004. For the five week period ended July 2, 2005,
compared with the five week period ended July 3, 2004, comparable store sales
increased approximately 1.4%. As of July 2, 2005, there were 5,732 stores in
operation, including 54 stores that were opened in fiscal June 2005.
For the five week period ended July 2, 2005, compared with the five week
period ended July 3, 2004, hardline merchandise sales in comparable stores
increased approximately 2.2% and softline merchandise sales in comparable
stores decreased approximately 1.3%. Sales of seasonal merchandise and
hanging apparel responded well to the warming trend experienced in several
markets. However, overall customer response to recent schematic changes in
some core consumable categories has not been as strong as expected. The
Company has evaluated sales in these categories and is making assortment
changes where appropriate. Sales from the refrigerated cooler installation
continue to be encouraging, and stores in the Urban Initiative program
continue to produce higher sales increases than the rest of the chain.
For the forty-four week period ended July 2, 2005, sales increased 10.8%
to approximately $4.962 billion from $4.480 billion for the forty-four week
period ended July 3, 2004. Sales in existing stores for the comparable forty-
four week periods increased approximately 2.6%, including an increase of
approximately 3.9% in sales of hardline merchandise and a decrease of
approximately 2.2% in sales of softline merchandise.
The Company plans for sales in existing stores in the July reporting
period to increase in the 2% to 3% range.
With over 5,700 stores in a 44-state area ranging as far northwest as
Idaho, northeast to Maine, southeast to Florida, and southwest to Arizona,
Family Dollar is one of the fastest growing discount store chains in the
United States. Family Dollar has provided value-conscious consumers with
competitive prices at neighborhood stores for over forty-five years. Offering
a consistent selection of name-brand and good quality merchandise in an
attractive and convenient shopping environment, the Company is focused on
continuing to meet the needs of shoppers looking for excellent value.
Certain statements contained in this press release or in other press
releases, public filings, or other written or oral communications made by the
Company or our representatives, 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, activities or events which the Company expects
will or may occur in the future. These forward-looking statements may be
identified by the use of the words "plan," "estimate," "expect," "anticipate,"
"probably," "should," "project," "intend," "continue," and similar terms and
expressions. Various risks, uncertainties and other factors could cause
actual results to differ materially from those expressed in any forward-
looking statements. Such risks, uncertainties and other factors include, but
are not limited to:
- competitive factors and pricing pressures,
- changes in economic conditions,
- the impact of acts of war or terrorism,
- changes in consumer demand and product mix,
- unusual weather that may impact sales,
- the impact of inflation,
- merchandise supply and pricing constraints,
- success of merchandising and marketing programs,
- 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, potential problems and achievement of results associated with
the implementation of new programs, systems and technology, including
supply chain systems, store technology, cooler installations and urban
initiative programs,
- changes in food and energy prices and their impact on consumer spending
and the Company's costs,
- adverse impacts associated with legal proceedings and claims,
- changes in shrinkage,
- changes in health care and other insurance costs,
- changes in the Company's ability to attract and retain employees,
- changes in state or federal legislation or regulations, including the
effects of legislation and regulations on wage levels and entitlement
programs.
Consequently, all of the forward-looking statements made by the Company in
this and other documents or statements 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
Company News On-Call:
http://www.prnewswire.com/comp/300875.html
CONTACT:
Kiley F. Rawlins, CFA, Divisional Vice
President of Family Dollar Stores, Inc., +1-704-849-7496
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