| An SI Board Since August 1998 |
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Family Dollar Store is a discount mini department store that serves small towns too small for K-Mart and Walmart. It has great financials(debt free-pays dividends). It has averaged over 50% annual increase in value for each of the past 5 years(totaling over 250%).
The company serves the working class and fixed income individuals. FDO has just opened its 3000th store. Have you visited one in your community? They are clean and well lighted usually located in strip malls. The management really knows how to make money for their investors. I can attest to that since I have owned them since March 1998 and feel they have great growth potential into 2000.
Check their webb site and share your opinion:
familydollar.com
FISCAL 1998 OUTLOOK
Family Dollar's well-defined and unique niche in retailing is the basis for our positive outlook on fiscal 1998. Our merchandising concept is to operate relatively small, self-service stores with no frills and low overhead, and to sell to low and low-middle income consumers on a cash-and-carry basis at everyday low prices, good quality, low cost basic merchandise for family and home needs.
Our Company has ambitious plans for fiscal 1998. We expect to open approximately 300 new stores, expand or relocate approximately 150 existing stores and close approximately 50 stores. To meet the demands of this accelerating pace of store expansion, the construction of a 907,000 square foot distribution center in Warren County, Virginia, is nearing completion. Our plan is to begin shipping merchandise from this facility to our stores in February 1998. Most importantly, our objective in fiscal 1998 is to continue to attract more customers with competitive everyday low prices and build upon the record sales and earnings of fiscal 1997.
We are excited about the progress our Company has made as we have changed our merchandise pricing strategy. With our merchandising concept now combining convenience and price and focusing on a growing market niche, and with the talents and dedication of more than 20,000 Family Dollar associates, we are optimistic that fiscal 1998 will be another year of record sales and earnings.
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