FAMILY DOLLAR REPORTS RECORD SALES AND EARNINGS
For The Fourth Quarter And For Fiscal 1998
MATTHEWS, N.C., Oct. 1 /PRNewswire/ -- Family Dollar Stores, Inc. (NYSE: FDO), a discount store chain operating 3,049 stores in a contiguous 38-state area, reported that sales and earnings for the fourth quarter and for the fiscal year ended August 29, 1998, were the highest in the Company's history. For the fourth quarter ended
August 29, 1998, sales were $597,498,670, or 16.8 percent above sales of $511, 427,524 for the fourth quarter ended August 31, 1997. Net income was $20,021,103, or 40.7 percent above net income of $14,227,437 for the fourth quarter of the prior year, and net income per share, adjusted to reflect the three for two stock split distributed July 31, 1997, and the two for one stock split distributed April 30, 1998, increased to $.12 from $.08.
Sales for the fiscal year ended August 29, 1998, were $2,361,930,395, or 18.4 percent above sales of $1,994,973,237 for the fiscal year ended August 31, 1997. Net income was $103,287,925, or 38.3 percent above net income of $74,676,737 for fiscal 1997, and net income per share, adjusted to reflect the three for two stock
split distributed July 31, 1997, and the two for one stock split distributed April 30, 1998, increased to $.60 from $.44. |
