Family Dollar 3Q profits climb 6%
July 6, 2001,
Matthews, NC — Third-quarter profits at Family Dollar Stores advanced by 6.9 percent, to $53.5 million from $50.1 million last year, despite sharply higher costs for new store openings, coupled with rising utility and health care expenses.
Sales at the rapidly growing chain advanced by 15.1 percent, to $887.0 million from $770.8 million last year, largely on the strength of new store openings. Same-store sales moved up by 3.6 percent, including an 8.5 percent increase in hardlines sales and a decrease of 10.2 percent in softlines sales.
Family Dollar plans to open about 120 more stores next quarter. Going forward, the chain will open about 525 new stores next year, closing 50.
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