Family Dollar 2003 Annual Report Download - page 12

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8
Family Dollar reached a milestone this year with the opening in Jacksonville, Florida, of our 5,000th store. For us, while
exciting, it was but one of 475 new stores launched across the nation in fiscal 2003. Why are we not more thrilled by 5,000
grand openings? We believe it’s not just about the milestone numbers we achieve. What does excite us is the friendly, clean,
neat and convenient shopping experience Family Dollar offers to neighborhood shoppers. Our success lies not just in the
number of new stores opened, but the ability of each new store to meet and exceed performance standards.
Continuing our emphasis on urban areas, store openings in fiscal 2003 were strong, with sales in new stores equal to approxi-
mately 96% of chain average. We attribute this strong showing to continued improvement of our site selection models, more
effective merchandising of new stores, and new recruiting and training programs that have enabled us to better
staff new stores.
During fiscal 2003, Family Dollar identified a number of key store-centered initiatives that
are designed to improve customer service while simplifying processes for our Associates.
Titled “Store of the Future,” this project is a comprehensive, multi-year endeavor that
envisions future customer, Associate and technology needs vital to supporting our rapid
Stores
Family Dollar
We’ve Still Got a
Long Way to Grow