Family Dollar Reports Record Earnings Results
Fiscal 2010 Earnings Per Diluted Share Increased 26.6% to $2.62
Operating Profit Expands to 7.3% of Sales from 6.2% of Sales in Fiscal 2009
Company Announces Acceleration of New Store Openings and Aggressive Store Renovation Program
Company Announces Authorization to Purchase $750 Million of Common Stock
MATTHEWS, N.C., Sep 29, 2010 (BUSINESS WIRE) --
Family Dollar Stores, Inc. (NYSE: FDO) today reported that net income per diluted share for the year ended August 28, 2010 ("fiscal 2010"), increased 26.6% to $2.62 compared with $2.07 for the year ended August 29, 2009 ("fiscal 2009"). Net income for the year increased 23.0% to $358.1 million compared with net income of $291.3 million in fiscal 2009.
"Our efforts to broaden the appeal of our assortment, improve the in-store shopping experience, enhance our customer communications, and strengthen our employee teams, resulted in strong improvements across most key metrics," said Howard R. Levine, Chairman and Chief Executive Officer. "I am very proud of this performance, and I appreciate the hard work and dedication of all our 50,000 Family Dollar Team Members."
I imagine that there is a two fold story going on here to have such adramatic impact on income. One they are increaseing stores like a wild fire, so revenue is increasing. I also imagine they have have been cutting out the middle suppliers and increase direct sourcing activities to get better cost and better value added products on the shelf. 23% increase in earning is huge. They run a tight ship at FDO.
This Blog has been created for my MGT 656 class for MBA at the Murray State University. The goal of this blog is to monitor the public activities of the Family Dollar Corporation in relation to what I am learning and have learned in my studies. I will integrate my professional experiences and perspectives of product sourcing in the wholesale and retail industries to the blog as well.
About Me
- Brent- Family Dollar
- I have a background in sales and product management. I enjoy finding products that make it to the retail shelves and sell. I am wired half creative and analytical. I tend to see both sides of the issue. I know how to approach things rationally and I can switch gears to think “outside the box”. I enjoy traveling. I have had the opportunity to travel to many places in the world: Europe, South America, Asia, and Africa. I try to take on a global perspective when looking at the dynamics that are effecting an industry becasue we are in global economy.
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