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Family Dollar Income Drops

MATTHEWS, NC- Expenses related to Family Dollar's strategic plan implementation cause net income to plunge.

By Jennifer D. Duell | Updated on December 20, 2004

MATTHEWS, NC- Executives at Family Dollar Stores Inc.say that fiscal year 2005 will be a “transitionalyear” – one that will position the discount retailerfor future sales and earnings growth.

But during the transition, Family Dollar’s expenseshave increased from 26.5% in the first quarter lastyear to 27.1% in the first quarter this year, causingits net income to plunge from $64.5 million for thefirst quarter of the prior fiscal year to $55.4million. The decrease represents a decrease of 14.1%.

The discount retailer’s transition includes fourstrategic initiatives: urban stores, the addition of”treasure hunt” merchandise, the installation ofcoolers in selected stores and the continuation of an aggressive new store opening program.

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