Family Dollar today (3 September) revealed that fourth-quarter same-store sales growth lagged full-year sales gains.
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During the fourth quarter, sales at stores open at least a year rose 1%, compared to 4% for the full year.
In the three-month period, the US retailer opened 32 new stores. Total sales grew 2.6% to US$1.81bn, Family Dollar said.
“As expected, our fourth-quarter sales results were impacted as we anniversaried the effect of last year’s stimulus package. In addition, this quarter, we continued our aggressive pace of investments, and re-aligned space in approximately half our chain,” said Howard Levine, chairman and CEO.
“Although the repositioning of categories to create better merchandise adjacencies and expand our selection of consumables resulted in some temporary disruption, customers are responding well to the improved shopping experience. We are pleased with the progress we have made and believe that these changes position us well for continued growth in fiscal 2010.”
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By GlobalDataFamily Dollar will issue its full-year results on 7 October.
