MATTHEWS, N.C., July 10 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), a discount store chain operating 4,898 stores in 43 states,
reported sales for the five-week period ended July 5, 2003, of approximately
$474.5 million, or 12.8% above sales of $420.7 million for the similar period
in the prior fiscal year. Sales in existing stores for the five-week period
ended July 5, 2003, increased approximately 3.2% above existing store sales
for the similar period in the prior fiscal year, including increases of
approximately 3.8% in sales of hardlines and approximately 1.6% in sales of
softlines. With more favorable weather in the second half of the period,
sales of apparel and other seasonal merchandise were stronger in the second
half than in the first half.
For the forty-four week period ended July 5, 2003, sales were
approximately $4,016.2 million, or 13.9% above sales of $3,525.1 million for
the similar period in the prior fiscal year. Sales in existing stores for
comparable forty-four week periods increased approximately 3.5%, including
increases of approximately 4.0% in sales of hardlines and approximately 1.9%
in sales of softlines.
As previously announced, 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.
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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CONTACT:
George R. Mahoney, Jr., Executive Vice
President of Family Dollar Stores, Inc., +1-704-814-3252
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