Family Dollar Reports Strong 2Q Growth

Family Dollar Stores Inc. (Matthews, N.C.) reports its net sales for the second quarter ended February 26, 2011, increased 8.3 percent while same-store sales for the quarter grew 5.1 percent. Through the second quarter of fiscal 2011, the company says comparable store sales are up 6.0 percent.

Sales were strongest in the consumable and seasonal categories.

“Family Dollar continues to execute well against our strategic plan to accelerate revenue growth, expand operating margins and optimize our capital structure,” says Howard Levine, chairman and ceo. “Our investments to improve the shopping experience for our customers while enhancing our operational capabilities continue to deliver strong returns.”

Family Dollar operates 6888 stores, including 61 new stores opened in the second quarter. The discount retailer has opened 146 new stores compared with 86 new store openings in the first half of fiscal 2010 and renovated 313 stores, with a of renovating 800 locations in fiscal 2011.