MEMPHIS — Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.
The store is located in Memphis, Tenn., and features a green building design and a spacious layout for an optimal shopping experience, the company reported.
To commemorate the opening of its 7,000th store in Memphis, Family Dollar completed the celebration with a $7,000 donation to the Mid-South Food Bank, along with cans of food donated by members of the local community.
"Family Dollar is absolutely thrilled to be opening our 7,000th store, and what better place to do so than in the great city of Memphis," Family Dollar chairman and CEO Howard Levine said. "This new store is a special example of our expansion and growth as a nationwide retailer, but gives us a venue to show customers our appreciation by creating an even better, more compelling shopping experience for their families."
To allow all loyal consumers to join in the celebration of the 7,000th store opening, Family Dollar is offering customers nationwide a chance to win Family Dollar gift cards valued from $25 to $500 throughout August at FamilyDollar.com.
For the third quarter, Family Dollar reported a 4.7% same-store sales increase that was just below the company's expectations for a 5% to 7% gain. Earnings advanced 18.2% to 91 cents, four cents shy of analysts’ consensus estimate of 95 cents.
Though the company may have missed expectations, those expectations were high, showing that both the company and Wall Street see continued value in dollar stores. With the opening of its 7,000th store, Family Dollar won't be slowing down anytime soon.