Family Dollar's home department faring well
April 29, 2009,
New York -- Family Dollar's home department has "hung in there pretty good" in recent quarters, chairman and ceo Howard Levine told investors this morning.
The 6,600-store extreme value retailer last year edited the home department as part of its strategy to expand its food and consumables businesses.
Traffic and ticket size are continuing to increase -- both among Family Dollar's core low-income shoppers as well as middle income shoppers. The company's average transaction is $9.70.
Family Dollar research shows that its customers are also Walmart's customer, but Family Dollar attracts shoppers when they want to do a quick fill-in trip rather than a big visit to stock up. "We don't charge a premium with that convenience," said Levine.
Asked about the competitive landscape, Levine said pricing has been "rational," adding: "So there's been no need to do some of the crazy things some of the higher income retailers have had to do."
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