MATTHEWS, N.C. — Family Dollar Stores here said yesterday it expects a range of ongoing marketing initiatives to help the company accelerate top-line growth.
According to Howard R. Levine, chairman and chief executive officer, those initiatives include strengthening assortments, particularly in the consumables category; enhancing customer communications with more online programs and better in-store signage to reinforce price points; realigning adjacencies to improve the shopping experience; expanding operating hours; and increasing private-label assortments.
Levine declined to pinpoint what improvements the company is getting from any given initiative when asked to do so during a conference call with analysts to discuss financial results for the first quarter, which ended Nov. 28. Net income for the quarter increased 14% to $67.6 million, while sales, as previously disclosed, climbed 3.9% to a record $1.8 billion, and comparable-store sales rose 2.4%.
The company said customer traffic was up for the sixth consecutive quarter — though average transaction value for the quarter was flat — with the strongest sales coming in the consumables category.
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