MATTHEWS, N.C., Sept. 22 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO) announced today that of the 50-60 stores that were closed as
a result of Hurricane Katrina, only 28 remain closed. While it is still too
early to quantify the extent of any losses related to Hurricane Katrina,
preliminary inspections suggest that 15 of the remaining closed stores have
significant damage and may be closed permanently or relocated.
Howard Levine, Chairman and CEO of the Company, commented on the impact of
hurricane Katrina on the Company's customers and associates, as follows: "Our
mission is to provide a compelling place to shop for our customers and to
provide a compelling place to work for our associates. Our target customer was
disproportionately impacted by hurricane Katrina, and we are focused on
providing basic necessities through our store network as soon as possible. In
addition, our Company and our associates have donated approximately $250,000
in cash and merchandise to local and national non-profit agencies supporting
Katrina relief efforts.
"To support our displaced employees during this difficult time, we have
actively reached out to our employees to make sure that they were safe; we
have responded to every employee who has contacted us and placed them in jobs;
we have continued salary and benefits for displaced or missing employees; we
have assisted some displaced associates with temporary living expenses; and we
are providing relocation assistance to those employees who have decided to
relocate permanently.
"Katrina will have a lasting effect on the region and its residents.
Through the Family Dollar store network and the hard work of our associates,
we will continue to support the rebuilding of the region and the creation of a
new life for our customers and our displaced associates."
Family Dollar Associates who have been displaced by Hurricane Katrina
should call Family Dollar's home office for information. Please contact the
Human Resource Service Center at 1-800-547-0359, extension 5863, or email
hrservicecenter@familydollar.com. Family Dollar Associates can also contact
the home office by visiting any Family Dollar store.
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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