Family Dollar 2004 Annual Report Download - page 2

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Family Dollar Stores, Inc. is one of the fastest growing
discount store chains in the United States. During the last
ten years, more than 3,000 new stores have been added
to the chain, of which over 2,000 were added in the last
five years. The merchandising concept that drives this
growth offers customers good values in low cost, basic
merchandise for family and home needs. Our merchandise
is sold at everyday low prices in a no frills, low overhead,
self-service environment. Most merchandise is priced
under $10.00.
Stores are located in a contiguous 44-state area ranging
northeast to Maine, southeast to Florida, as far northwest
as Idaho and southwest to Arizona. Family Dollar stores
generally range in size from 7,500 to 9,500 square feet, and
most are operated in leased facilities. The relatively small
size permits the Company to open new stores in rural
areas and small towns, as well as in large urban neighbor-
hoods. Within these markets, the stores are located in
shopping centers or as freestanding buildings or in urban
storefronts convenient to the Company’s value-conscious
customer base.
During the fiscal year ended August 28, 2004, the
Company opened 500 new stores and closed 61 stores to
bring the number of stores in operation at fiscal year-end
to 5,466. Family Dollar presently plans to open 500 to 560
new stores and close 60 to 70 stores during the current
fiscal year ending August 27, 2005.
Family Dollar’s headquarters are located in Matthews,
North Carolina, just outside of Charlotte. The Company
operates automated full-service distribution centers in
Matthews; West Memphis, Arkansas; Front Royal, Virginia;
Duncan, Oklahoma; Morehead, Kentucky; Maquoketa,
Iowa; and Odessa, Texas. An eighth distribution center
is scheduled to open in early 2005 in Marianna, Florida.
The Company has been a publicly held corporation since
1970 and its Common Stock is listed on the New York Stock
Exchange under the ticker symbol FDO.
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