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Family Dollar Sees PL Sales Climb, Plans PL Marketing Push, Product Expansion

March 31, 2011
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Family Dollar Stores overall private label sales rose 23 percent in the first half of its fiscal 2011 while sales of private label consumables, food items, were up 29 percent in the first half of the year compared to the same period in the prior fiscal year, Howard Levine, chairman and CEO, announced in an earnings conference call with analysts March 30.



Family Dollar Stores overall private label sales rose 23 percent in the first half of its fiscal 2011 while sales of private label consumables, food items, were up 29 percent in the first half of the year compared to the same period in the prior fiscal year, Howard Levine, chairman and CEO, announced in an earnings conference call with analysts March 30.
 
“Importantly, the investments we have made to increase merchandising quality are delivering results. Recent customer surveys indicate that our quality perception for both national and private brands has improved,” he said.
 
Family Dollar plans to launch new in-store and direct marketing efforts for its private label food offerings. In addition, “we are increasing our targeted digital marketing efforts and executing more promotional events to leverage our growing customer traffic,” he said. The retailer also will expand its Family Gourmet and Family Pet lines, he told analysts.
 
The Matthews, N.C.-based retailer reported net income for its latest quarter of $123.2 million, a 9.8 percent jump from the same period the prior year. “While revenue growth was near the low end of our original expectation, improved purchase markups, combined with benefits from cost improvement initiatives, resulted in modest operating margin expansion during the quarter,” he said.
 

Net sales for the quarter increased 8.3 percent to $2.3 billion. Comparable store sales for the quarter increased 5.1 percent.

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