MATTHEWS, N.C. — Family Dollar Stores here said Wednesday its primary objective for fiscal 2012 is to drive traffic with an expanded selection of consumables and to drive larger baskets with more impulse purchases.
Consumables increased 12% in fiscal 2011 — to 69.1% of sales in the fourth quarter, compared with 67.3% a year earlier — reflecting expanded assortments of food and health and beauty aids, the company noted.
"Our strong sales of consumables in the fourth quarter confirmed that our customers appreciate the expanding offering," Kenneth T. Smith, senior vice president and chief financial officer, told analysts during a conference call.
For the fourth quarter, which ended Aug. 27, net income rose 8% to $79.9 million, while sales climbed 9.1% to $2.1 billion and comparable store sales increased 5.6%.
For the year net income was up 8.5% to $388.6 million, while sales rose 8.7% to $8.6 billion and comps were up 5.5%.