MATTHEWS, N.C., Dec. 4 /PRNewswire-FirstCall/ -- Family Dollar Stores,
Inc. (NYSE: FDO), a discount store chain operating 5,105 stores in 43 states,
reported sales for the four-week period ended November 29, 2003, of
approximately $402.6 million, or 10.0% above sales of $366.0 million for the
similar period in the prior fiscal year. Sales in existing stores for the
four-week period ended November 29, 2003, increased approximately 0.7% above
existing store sales for the similar period in the prior fiscal year,
including an increase of approximately 1.3% in sales of hardlines and a
decrease of approximately 1.2% in sales of softlines.
Sales in existing stores for the four-week period ended November 29, 2003,
were below the Company's previously announced plan for an increase of 4% to
6%. Sales in existing stores increased approximately 5.4% in the first week,
3.4% in the second week and 1.1% in the third week. In the fourth week, which
included the Thanksgiving holiday period, sales in existing stores decreased
approximately 5.9%. In recent years, as some retailers have become more
promotional during this period, the Company has followed its everyday low
price policy and has had no special Thanksgiving related advertising or
promotional events in its stores. Sales of core consumables in the four-week
period continued to perform well; however, sales of seasonal merchandise were
below the Company's plan and adversely impacted overall hardlines sales.
Warmer weather this November compared to last November also adversely impacted
sales of apparel.
For the thirteen-week period ended November 29, 2003, sales were
approximately $1,244.7 million, or 12.3% above sales of $1,108.6 million for
the similar period in the prior fiscal year. Sales in existing stores for the
thirteen-week period ended November 29, 2003, increased approximately 2.6%
above existing store sales for the similar period in the prior fiscal year,
including increases of approximately 3.0% in sales of hardlines and 1.1% in
sales of softlines.
The Company's plan is for sales in existing stores in the five-week period
ending January 3, 2004, to increase in the 2% to 4% range.
Family Dollar will host a conference call on Thursday, December 18, 2003,
at 10:00 A.M. ET to discuss the financial results for the first quarter ended
November 29, 2003. If you wish to listen, please call (334) 420-2608 at least
10 minutes before the call is scheduled to begin. A replay of the call will
be available from 1:00 P.M. ET, December 18, 2003, through December 19, 2003,
by calling 703-925-2474 and entering the access code 3902944. 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, December 18,
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
http://www.familydollar.com/investors.asp
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Company News On-Call:
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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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