The Company’s merchandise inventories at November 24, 2012, were $1.59 billion compared with $1.30 billion at November 26, 2011. Average inventory per store at the end of the quarter was 15.1% higher than the average inventory per store at the end of the first quarter of fiscal 2012. The increase in inventories was the result of investments to expand the Company’s consumable categories, primarily health and beauty aids and food assortments.
In the quarter, capital expenditures were $196.4 million compared with $130.9 million in the first quarter of fiscal 2012. The growth in capital expenditures related to increased investments in new stores.
During the first quarter of fiscal 2013, the Company repurchased approximately 0.4 million shares of its common stock for a total cost of $25.0 million. As of November 24, 2012, the Company had the authorization to purchase up to an additional $120.8 million of its common stock.
About Family Dollar
For more than 50 years, Family Dollar has been providing value and convenience to customers in easy-to-shop neighborhood locations. Family Dollar’s mix of name brands and quality, private brand merchandise appeals to shoppers in more than 7,500 stores in rural and urban settings across 45 states.
Helping families save on the items they need with everyday low prices creates a strong bond with customers, who often refer to their neighborhood store as “my Family Dollar.” Headquartered in Matthews, North Carolina, just outside of Charlotte, Family Dollar is a Fortune 300, publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO.
Family Dollar