MATTHEWS, N.C., July 8 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), a discount store chain operating 5,321 stores in 44 states,
reported sales for the five week period ended July 3, 2004, of approximately
$521.9 million, or 10.0% above sales of $474.5 million for the similar period
in the prior fiscal year. Sales in existing stores for the five week period
ended July 3, 2004, increased approximately 0.9% above existing store sales
for the similar period in the prior fiscal year, including an increase of
approximately 3.4% in sales of hardlines and a decrease of approximately 6.9%
in sales of softlines. During the first three weeks of the period, sales in
existing stores increased approximately 3.4%. During the last two weeks of
the period, sales in existing stores decreased approximately 2.7%. Sales in
the last two weeks were adversely impacted by weather and the reduction in
consumer spending the Company has been experiencing in the latter part of the
month at the end of the pay cycle.
For the forty-four week period ended July 3, 2004, sales were
approximately $4,479.6 million, or 11.5% above sales of $4,016.2 million for
the similar period in the prior fiscal year. Sales in existing stores for
comparable forty-four week periods increased approximately 2.1%, including an
increase of approximately 3.3% in sales of hardlines and a decrease of
approximately 1.8% in sales of softlines.
As previously announced, the Company's plan is for sales in existing
stores in both the July and August reporting periods to increase in the 2% to
4% range.
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.
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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, +1-704-814-3252
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