Family Dollar 2011 Annual Report Download - page 27

ITEM 6. SELECTED FINANCIAL DATA
Summary of Selected Financial Data
Years Ended
(in thousands, except per share, store,
and net sales per square foot data)
August 27,
2011
August 28,
2010
August 29,
2009
August 30,
2008
September 1,
2007
Net sales ............................ $8,547,835 $7,866,971 $7,400,606 $6,983,628 $6,834,305
Cost of sales ......................... 5,515,540 5,058,971 4,822,401 4,637,826 4,512,242
3,032,295 2,808,000 2,578,205 2,345,802 2,322,063
Selling, general and administrative
expenses .......................... 2,394,223 2,232,402 2,120,936 1,980,496 1,933,430
Operating profit ....................... 638,072 575,598 457,269 365,306 388,633
Income before income taxes ............. 617,158 563,858 450,925 361,762 381,896
Income taxes ......................... 228,713 205,723 159,659 128,689 139,042
Net income .......................... 388,445 358,135 291,266 233,073 242,854
Diluted net income per common share ..... $ 3.12 $ 2.62 $ 2.07 $ 1.66 $ 1.62
Dividends declared .................... 84,342 80,394 74,013 68,537 66,361
Dividends declared per common share ..... 0.695 0.600 0.530 0.490 0.450
Comparable store sales growth(1) ......... 5.5% 4.8% 4.0% 1.2% 0.9%
Selling square feet ..................... 49,996 48,225 47,120 46,324 45,251
Net sales per square foot(2) .............. $ 174 $ 165 $ 158 $ 152 $ 154
Consumables sales ..................... 66.5% 65.1% 64.4% 61.0% 58.8%
Home products sales ................... 12.7% 13.2% 13.4% 14.4% 15.1%
Apparel and accessories sales ............ 10.0% 10.7% 11.2% 13.1% 14.4%
Seasonal and electronics sales ............ 10.8% 11.0% 11.0% 11.5% 11.7%
Net cash provided by (used in):
Operating activities ................ $ 528,064 $ 591,539 $ 529,199 $ 515,738 $ 415,777
Investing activities ................ (280,418) (306,948) (109,355) (199,556) (191,835)
Financing activities ................ (488,995) (340,727) (139,456) (244,856) (216,493)
Total capital expenditures ............... (345,268) (212,435) (155,401) (167,932) (131,594)
Total repurchases of common stock ....... (670,466) (332,189) (71,067) (97,674) (257,523)
Total assets(3) ......................... $2,996,205 $2,968,145 $2,864,112 $2,689,354 $2,645,425
Working capital(3) ..................... 516,789 641,527 718,509 453,806 586,531
Long-term investment securities .......... 107,458 147,108 163,545 222,104 —
Long-term debt ....................... 548,570 250,000 250,000 250,000 250,000
Shareholders’ equity ................... 1,087,074 1,421,554 1,440,060 1,254,083 1,174,641
Stores opened ........................ 300 200 180 205 300
Stores closed ......................... 62 70 96 64 43
Number of stores—end of year ........... 7,023 6,785 6,655 6,571 6,430
(1) Comparable store sales include stores that have been open more than 13 months. Stores that have been
renovated, relocated or expanded are included in the comparable store sales calculation to the extent that
they had sales during comparable weeks in each year.
(2) Net sales per square foot was calculated based on total sales for the preceding 12 months as of the ending
date of the reporting period divided by the average selling square footage during the period, including the
end of the fiscal year, the beginning of the fiscal year, and the end of each of our three interim fiscal
quarters.
(3) Prior year amounts have been revised to conform with current year presentation.
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