MATTHEWS, N.C., Sept. 4 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), a discount store chain operating 5,028 stores in 43 states,
reported sales for the four week period ended August 30, 2003, of
approximately $374.0 million, or 15.7% above sales of $323.2 million for the
similar period in the prior fiscal year. Sales in existing stores for the
four week period ended August 30, 2003, increased approximately 6.1% above
existing store sales for the similar period in the prior fiscal year,
including increases of approximately 6.3% in sales of hardlines and
approximately 5.5% in sales of softlines.
For the thirteen week period ended August 30, 2003, sales were
approximately $1,208.5 million, or 14.2% above sales of $1,058.3 million for
the similar period in the prior fiscal year. Sales in existing stores for the
thirteen week period ended August 30, 2003, increased approximately 4.6% above
existing store sales for the similar period in the prior fiscal year,
including increases of approximately 5.1% in sales of hardlines and
approximately 2.8% in sales of softlines.
For the fifty-two week period ended August 30, 2003, sales were
approximately $4,750.2 million, or 14.1% above sales of $4,162.7 million for
the similar period in the prior fiscal year. Sales in existing stores for
comparable fifty-two week periods increased approximately 3.8%, including
increases of approximately 4.3% in sales of hardlines and approximately 2.1%
in sales of softlines.
The Company also reported the opening of 190 new stores and the closing of
2 stores in the thirteen week period ended August 30, 2003. For the fiscal
year ended August 30, 2003, Family Dollar opened 475 new stores and closed
64 stores.
The Company's plan is for sales in existing stores in the five week period
ending October 4, 2003, to increase approximately 3% to 5%.
Family Dollar will host a conference call on Wednesday, October 1, 2003,
at 10:00 A.M. ET to discuss the financial results for the fourth quarter and
year ended August 30, 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 about 1:00 P.M. ET, October 1, 2003, through
October 3, 2003, by calling 703-925-2474 and entering the access code 3796064.
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,
October 1, 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
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/19981001/CHTH003
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
Company News On-Call:
http://www.prnewswire.com/comp/300875.html
Audio:http://www.familydollar.com/investors.asp
CONTACT:
George R. Mahoney, Jr., Executive Vice
President of Family Dollar Stores, Inc., +1-704-814-3252
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