Profile: Family Dollar Stores Inc (FDO.N)

FDO.N on New York Stock Exchange

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Family Dollar Stores, Inc. (Family Dollar), incorporated on November 24, 1969, operates a chain of more than 8,000 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores. The Company's merchandise assortment includes Consumables, Home Products, Apparel and Accessories, and Seasonal and Electronics. The Company classifies the combination of Home Products, Apparel and Accessories, and Seasonal and Electronics as Discretionary. The Company sells merchandise at prices that range from less than $1 to $10. A Family Dollar store is between 7,500 and 9,500 square feet, with an average of approximately 7,150 square feet of selling space. The stores generally serve customers who live within three to five miles of the store. At the end of fiscal 2014, the Company operated 8,042 stores, totaling 58.1 million selling square feet, and approximately 24% of its stores were located in large urban markets, and approximately 20% of its stores were located in small urban markets or suburban areas. The Company has approximately 55% of its stores were in strip malls, 43% in freestanding buildings and 2% in downtown buildings.

The Company provides its customers with an assortment of basic necessities and seasonal merchandise at everyday low prices. While the number of SKUs in a given store can vary based upon the store's size, geographic location, merchandising initiatives, and other factors, the Family Dollar store generally carries approximately 6,500 to 7,500 basic SKUs, with fluctuations in seasonal items throughout the year. The majority of Family Dollar products are priced at $10 or less, with approximately 22% priced at $1 or less. All stores operate under the Family Dollar name and are same in terms of size, merchandise, customers, distribution, and operations. The Company has no franchised locations or other lines of business. All of the Company's operations are located in the United States with the exception of certain sourcing entities located in Asia and Europe.

The Company sells brands from leading manufacturers including Procter & Gamble, Coca-Cola, Unilever, Nestle, Kimberly Clark, Clorox, Colgate Palmolive, Georgia Pacific, Frito-Lay, Inc., and PepsiCo, which are sold at higher prices elsewhere. During fiscal 2014, nationally advertised brand name merchandise accounted for approximately 71% of sales. Merchandise sold under the Company’s private brands program, across all merchandise categories, accounted for approximately 29% of sales. During fiscal 2014, closeout merchandise accounted for approximately 3% of total sales.

The Company purchases merchandise from a variety of suppliers and purchased approximately 17% of its merchandise (at cost) through its relationship with McLane, which distributes Consumables merchandise from multiple manufacturers. In fiscal 2014, approximately 21% of its merchandise purchases (at cost) were manufactured overseas. Of these purchases (at cost), the Company imported approximately 13% on its own through its global sourcing program and the remainder were imported and purchased through its domestic suppliers. The Company has classified its four product categories as: Consumables, Home Products, Apparel and Accessories and Seasonal and Electronics.

Consumables

The Consumables product category offers batteries, diapers, food, hardware and automotive supplies, health and beauty aids, household chemicals, paper products, pet food and supplies and tobacco. The Consumables product category contributed 73.4% of the Company’s net revenues for fiscal year ended August 30, 2014.

Home Products

The Home Products product category offers domestics, including blankets, sheets and towels, giftware, home décor and housewares. The Home Products product category contributed 9.6% of the Company’s net revenues for fiscal year ended August 30, 2014.

Apparel and Accessories

The Apparel and Accessories product category offers boys’ and girls’ clothing, fashion accessories, infants’ clothing, men’s clothing, shoes and women’s clothing. The Apparel and Accessories product category contributed 7.3% of the Company’s net revenues for fiscal year ended August 30, 2014.

Seasonal and Electronics

The Seasonal and Electronics product category offers personal electronics, including pre-paid cellular phones and services, seasonal goods, stationery and school supplies and toys. The Seasonal and Electronics product category contributed 9.7% of the Company’s net revenues for fiscal year ended August 30, 2014.

Company Address

Family Dollar Stores Inc

10401 Monroe Rd
PO Box 1017
CHARLOTTE   NC   28201-1017
P: +1704.8497492
F: +1302.6555049

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