Family Dollar Stores Inc. (FDO) reported that its fourth-quarter comparable store sales increased 6.1%. Net sales increased 8.0% to $1.957 billion from $1.811 billion in the fourth quarter ended August 29, 2009. The company had 6,785 stores as of August 28, 2010, including 75 new stores opened in the fourth quarter.
For fiscal 2010, Comparable store sales increased 4.8%. Net sales rose 6.3% to $7.867 billion.
"In fiscal 2010, we enhanced our assortment, worked to make our stores easier to shop, and expanded our operating hours to provide our customers with more convenience. These investments have delivered solid results and position us well for continued growth in fiscal 2011," said Howard Levine, Chairman and CEO.
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