Family Dollar 2003 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2003 Family Dollar annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 38

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38

Appealing Urban
Opportunities
Family Dollar’s future is positive with growth
opportunities in urban locations, large
towns, small towns and rural areas. Our
stores’ small format ensures that no low to
middle income consumer market need be
overlooked and no customers left unserved.
We opened 475 new stores in fiscal 2003,
with approximately 55% of those openings
in urban (city populations above 75,000)
or major urban markets (city populations
above 200,000). Continuing our aggres-
sive store expansion program, we expect
urban and major urban market store
openings to grow to 60% or higher in
fiscal 2004.
Opening stores in densely populated urban
areas holds particular interest for Family
Dollar as stores in these areas continue to
be top performers. Urban locations offer
neighborhood convenience and great
values for our growing low to middle
income customer base while furthering
supply chain efficiencies through the
clustering of stores.
expansion. Two of the initiatives are successfully underway. First, designed to boost convenience and give our shoppers more
payment choice, our stores now accept debit and electronic benefits (EBT) transactions. Second, to ensure a positive shopping
experience for our customers, we continue to focus on hiring the right people. In a major urban market, we are currently
piloting a complete hiring solution system that provides candidates with a consistent pre-employment assessment and interview
process. Looking forward to fiscal 2004, we will continue to develop, implement and execute strategic Store of the Future
initiatives as we focus on satisfying the needs of our customers and workforce.
81%
88%
96%
’01 ’02 ’03
Sales for Fiscal Years
in New Stores as a
Percentage of Chain
Average Store Sales
9