Family Dollar will open 300 new stores in its coming fiscal year. This is the same number it opened in the past 12 months and will take the Matthews, NC based discount retailer's total portfolio to about 6,730 locations nationwide.
As it opens new units, the company will add food coolers to 575 stores on top of the 5,100 units that now have them. Enhanced food selling space, which is now in 2,700 Family Dollar units, will be added to an additional 2,800 locations.
The company plans to spend between $180 million and $190 million on openings and renovations this year on hopes that the improvements will attract customers during a time when consumer confidence is uncertain, according to Howard Levine, chairman and CEO. "In this environment, consumers need the value and convenience that we offer even more," he said.
Despite its expansion plans, Levine remains cautious about the coming year. The retailer forecasts same store sales growth in a range between one and three percent.
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