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Family Dollar sees strongest growth in apparel for Jan

09
Feb '07
Family Dollar Stores Inc reported that net sales for the five weeks ended February 3, 2007, increased 38.2% to approximately $585.3 million from $423.4 million for the four week period ended January 28, 2006.

For the five-week period ended February 3, 2007, compared with the similar five week period last year, total sales increased 4.0% and comparable store sales increased approximately 0.1%. Sales increases for the five week January period were the strongest in apparel and electronics; sales of home products and basic consumables were soft.

The National Retail Federation monthly sales reporting calendar followed by the Company and widely used in the retail industry includes a non-comparative fifth week in the January period this year.

Excluding the non-comparative week, net sales for the four weeks ended January 27, 2007, increased 5.7% and comparable store sales increased 1.7% when compared with sales for the similar four week period last year.

As previously announced, this year the Company plans to expand its core food assortment in approximately 2,000 stores. The Company expects to initiate these and additional changes in other highly consumable categories in February.

While these assortment changes are expected to contribute to accelerated sales growth in the second half of fiscal 2007, the Company believes that the transition period may temporarily disrupt sales.

Consequently, the Company expects that comparable store sales for the February period will be approximately flat. The Company continues to expect that earnings per share for the second quarter of fiscal 2007 will be between $0.58 and $0.64.

Family Dollar Stores Inc


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