Family Dollar Reports Profit Increase, Looks to Add 565 New Stores
MATTHEWS, N.C. - Matthews, N.C.-based Family Dollar Stores Inc., which operates more than 5,000 stores in 43 states, said Wednesday that profit jumped 14 percent in the latest quarter as the addition of new stores bolstered sales.
For the fiscal fourth quarter ended Aug. 30, the discount-store chain reported net income of $47.7 million, or 28 cents a share, up from $41.9 million, or 24 cents a share, a year earlier.
Sales for the quarter increased 14 percent to $1.21 billion, from $1.06 billion a year ago. Sales at stores open more than a year increased about 4.6 percent from last year.
Family Dollar said it plans to open 565 stores in fiscal 2004.
For the fiscal fourth quarter ended Aug. 30, the discount-store chain reported net income of $47.7 million, or 28 cents a share, up from $41.9 million, or 24 cents a share, a year earlier.
Sales for the quarter increased 14 percent to $1.21 billion, from $1.06 billion a year ago. Sales at stores open more than a year increased about 4.6 percent from last year.
Family Dollar said it plans to open 565 stores in fiscal 2004.
