Family Dollar plans to open up to 500 stores (Charlotte, Matthews: sales, price)

[SunnyKayak]

Matthews-based Family Dollar Stores plans to open as many as 500 stores during the next 12 months. The company says profit for the fiscal year ended Aug. 27 was $388 million, up 4.5% from the preceding year. Sales were up 8.7%.

read more UPDATE: Family Dollar 4Q Profit Up; To Open 450-500 New Stores - WSJ.com (http://online.wsj.com/article/BT-CO-20110928-711887.html - broken link)

[marynancyvw]

---when lots of Dollar stores open up. What does it say? Something we already knew. We are in a poverty stricken area.

[SunnyKayak]

Family Dollar and Dollar General are catering to what Walmart already capitalize on providing goods at a discount price.

This definitely good news in job security for people who work at the headquarters in Matthews.

[sophialee]

It's not really a dollar store. I think it's a grocery store. Never been.

[vmaxnc]

Originally Posted by sophialee

It's not really a dollar store. I think it's a grocery store. Never been.

It's both, but they dont' carry many groceries, at least in the few I've been in.


The more money they make, the more money they donate. The Levines haven donated many millions in this area.

[Megax]

Originally Posted by vmaxnc

It's both, but they dont' carry many groceries, at least in the few I've been in.

I wouldn't be surprised if they start to carry more groceries, in order to shorten the trip cycle. Kinda like why grocery stores love the DVD kiosks - customers who might have been 'once a week' shoppers will find generally themselves at the grocery store on back-to-back days and the store has another opportunity for business.

[SunnyKayak]

Originally Posted by sophialee

It's not really a dollar store. I think it's a grocery store. Never been.

Family Dollar is a mini department store. We have all your FAVORITE BRANDS for LESS! - Family Dollar
The grocery is more of staples.

[CharlotteGal]

Originally Posted by marynancyvw

---when lots of Dollar stores open up. What does it say? Something we already knew. We are in a poverty stricken area.

I think less 'poverty stricken' than more folks are watching their dollars and being frugal. If I can get detergent at Family Dollar for $3, why would I pick it up at HT for $8?

[Wolf Howl]

Originally Posted by marynancyvw

---when lots of Dollar stores open up. What does it say? Something we already knew. We are in a poverty stricken area.

They aren't opening those 500 stores in Charlotte. lol

Seriously though, this is great news and those are some VERY strong sales and comp numbers. But, given the economy, people look for value and that's why you see Dollar Generals, Family Dollars, Dollar Tree's, etc. doing so well.

I know a few people that work at their corporate office so I'm excited for them in what seems like some nice job security.