Family Dollar Stores, Inc. operates nearly 6,000 discount retail stores across 44 states that offer low prices on consumable merchandise and seasonal items. In 2005, the company experienced sales growth of 10% but net income declined 16% due to challenging economic conditions and investments in new strategic initiatives. These initiatives included expanding refrigerated food offerings, improving operations in urban stores, enhancing treasure hunt merchandise, and opening additional stores. The CEO remains optimistic about the company's future prospects and ability to create value.
Kohl's operates over 500 department stores across 37 states and online. In 2003, net sales increased 12.7% to over $10 billion however net income decreased 8.1% due to issues with inventory levels, customer experience, and marketing. In 2004, Kohl's plans to open 95 new stores and expand existing categories through partnerships for beauty products and new brands. The company believes its focus on national brands, value, and convenience positions it for continued growth.
Morgan Stanley Global Consumer & Retail Conference Presentationfinance7
1) The document discusses SUPERVALU's transformation journey and action plan to improve operations and financial performance through initiatives like investing in stores, innovative merchandising, and customer-centric marketing from 2006 to 2010.
2) Key financial metrics like sales, earnings growth, and debt reduction targets are presented, showing progress towards goals. Debt levels have steadily declined from $9.4 billion to $8.8 billion.
3) The CEO expresses confidence that execution of initiatives across their diverse portfolio of stores will continue to improve the shopping experience and financial stability of the company.
1) Whole Foods Market saw sales growth of 24% in 2008 to $8 billion but comparable store sales grew only 5% as challenges from the deteriorating economy hurt sales. 2) Actions taken to address the economic challenges included cost cuts, reducing new store openings, and raising $425 million through an investment in preferred stock. 3) Looking ahead, Whole Foods aims to improve performance in acquired Wild Oats stores, lower average store size, and differentiate its product selection.
The CEO provides an overview of the company's strong financial performance in fiscal year 2007, including 15% sales growth to $6.6 billion and comparable store sales growth of 7%. The company successfully completed its merger with Wild Oats Markets, opening new markets and stores. Going forward, the company expects higher sales growth of 25-30% in 2008 and comparable store sales growth of 7.5-9.5% as it integrates Wild Oats stores and expands its store base. The CEO expresses confidence in achieving the company's $12 billion sales goal by 2010 through continued expansion.
The document provides an annual report and letter to stakeholders from Whole Foods Market for the 2007 fiscal year. It summarizes the company's strong financial performance, including 15% sales growth and 7% comparable store sales growth. It also details strategic initiatives like acquiring Wild Oats Markets and expanding private label offerings. The CEO expresses optimism about continued growth and achieving the goal of $12 billion in sales by 2010.
This annual report summarizes the company's performance in 2008. It discusses challenges faced due to economic deterioration, but also growth through new store openings and sales increasing 24% to $8 billion. Cost-cutting measures were implemented and an investment was received to ensure liquidity during difficult times. The company remains committed to its core values like high quality, customer satisfaction, and social/environmental responsibility.
This document provides an overview of SUPERVALU's fiscal year 2003 performance and outlook for fiscal year 2004. Some key points:
1) In fiscal year 2003, SUPERVALU reported sales of $19.2 billion and net earnings of $257 million, though it did not meet all of its goals due to economic pressures.
2) The company made progress on key initiatives like adding new retail stores and implementing cost savings programs in distribution.
3) The outlook for fiscal year 2004 forecasts earnings per share between $2.00-$2.15, based on plans like opening new stores and a slowly recovering economy.
This document is Dollar Tree's 2014 Annual Report which summarizes their financial performance for the year. Some key points:
- Dollar Tree experienced record sales of $8.6 billion in 2014, a 9.7% increase over the previous year and their first time exceeding $8 billion in annual sales.
- Net income was $599.2 million, up slightly from the previous year. Earnings per share were $2.90.
- The company operated over 5,300 stores across North America and had over 90,000 employees by the end of 2014.
- A major announcement was made to acquire Family Dollar Stores, which would more than double the combined company's store count and revenue.
Kohl's operates over 500 department stores across 37 states and online. In 2003, net sales increased 12.7% to over $10 billion however net income decreased 8.1% due to issues with inventory levels, customer experience, and marketing. In 2004, Kohl's plans to open 95 new stores and expand existing categories through partnerships for beauty products and new brands. The company believes its focus on national brands, value, and convenience positions it for continued growth.
Morgan Stanley Global Consumer & Retail Conference Presentationfinance7
1) The document discusses SUPERVALU's transformation journey and action plan to improve operations and financial performance through initiatives like investing in stores, innovative merchandising, and customer-centric marketing from 2006 to 2010.
2) Key financial metrics like sales, earnings growth, and debt reduction targets are presented, showing progress towards goals. Debt levels have steadily declined from $9.4 billion to $8.8 billion.
3) The CEO expresses confidence that execution of initiatives across their diverse portfolio of stores will continue to improve the shopping experience and financial stability of the company.
1) Whole Foods Market saw sales growth of 24% in 2008 to $8 billion but comparable store sales grew only 5% as challenges from the deteriorating economy hurt sales. 2) Actions taken to address the economic challenges included cost cuts, reducing new store openings, and raising $425 million through an investment in preferred stock. 3) Looking ahead, Whole Foods aims to improve performance in acquired Wild Oats stores, lower average store size, and differentiate its product selection.
The CEO provides an overview of the company's strong financial performance in fiscal year 2007, including 15% sales growth to $6.6 billion and comparable store sales growth of 7%. The company successfully completed its merger with Wild Oats Markets, opening new markets and stores. Going forward, the company expects higher sales growth of 25-30% in 2008 and comparable store sales growth of 7.5-9.5% as it integrates Wild Oats stores and expands its store base. The CEO expresses confidence in achieving the company's $12 billion sales goal by 2010 through continued expansion.
The document provides an annual report and letter to stakeholders from Whole Foods Market for the 2007 fiscal year. It summarizes the company's strong financial performance, including 15% sales growth and 7% comparable store sales growth. It also details strategic initiatives like acquiring Wild Oats Markets and expanding private label offerings. The CEO expresses optimism about continued growth and achieving the goal of $12 billion in sales by 2010.
This annual report summarizes the company's performance in 2008. It discusses challenges faced due to economic deterioration, but also growth through new store openings and sales increasing 24% to $8 billion. Cost-cutting measures were implemented and an investment was received to ensure liquidity during difficult times. The company remains committed to its core values like high quality, customer satisfaction, and social/environmental responsibility.
This document provides an overview of SUPERVALU's fiscal year 2003 performance and outlook for fiscal year 2004. Some key points:
1) In fiscal year 2003, SUPERVALU reported sales of $19.2 billion and net earnings of $257 million, though it did not meet all of its goals due to economic pressures.
2) The company made progress on key initiatives like adding new retail stores and implementing cost savings programs in distribution.
3) The outlook for fiscal year 2004 forecasts earnings per share between $2.00-$2.15, based on plans like opening new stores and a slowly recovering economy.
This document is Dollar Tree's 2014 Annual Report which summarizes their financial performance for the year. Some key points:
- Dollar Tree experienced record sales of $8.6 billion in 2014, a 9.7% increase over the previous year and their first time exceeding $8 billion in annual sales.
- Net income was $599.2 million, up slightly from the previous year. Earnings per share were $2.90.
- The company operated over 5,300 stores across North America and had over 90,000 employees by the end of 2014.
- A major announcement was made to acquire Family Dollar Stores, which would more than double the combined company's store count and revenue.
The document is Dillard's, Inc.'s 2006 annual report. It discusses Dillard's strong financial results in 2006, including record earnings per share. It attributes this success to changes made to improve its merchandise mix and appeal to customers seeking upscale, contemporary fashion. These changes included launching a new branding campaign called "Dillard's - The Style of Your Life" and focusing on presenting fashionable merchandise from recognized national brands. Going forward, Dillard's plans to open nine new stores in 2007 and continue strengthening customer relationships through an emphasis on fashion, quality, and value.
1) Charles & Colvard introduced its new Forever Brilliant moissanite brand which is whiter, brighter, and more appealing to customers.
2) In 2011, the company increased revenues by 26% and gross profits exceeded 59% while investing in new initiatives like its e-commerce website Moissanite.com and home party brand Lulu Avenue.
3) The company believes innovation will drive long-term growth and its new Forever Brilliant moissanite gemstone, which is whiter than previous versions, opens opportunities in new markets like Asia.
Target Corporation achieved record financial performance in 2005 through consistent execution of its strategy. It maintained its focus on creativity and innovation, expanded its food assortment, continued disciplined store expansion, and invested in technology and infrastructure. This resulted in considerable market share gains, surpassing $50 billion in annual sales and generating a 31% increase in earnings per share. Target is well positioned to build on this success through continued focus on newness, innovation, and delivering great design and value.
Coast Wholesale Appliances Inc. reported higher first quarter 2013 sales and profits compared to the previous year. Sales increased 14.4% to $34.4 million due to a 25.2% rise in builder segment sales. Gross profit grew 7.8% to $7.4 million, though margins declined due to competitive pressures. EBITDA increased 74% to $1.1 million through higher revenues and cost controls. The company continued initiatives to enhance stores and expand product offerings to increase sales and profits.
In 2004, Kohl's expanded its brand selection and introduced several new exclusive brands to attract more customers. Financial highlights show sales and profits increased over 13-22% from the previous year. In 2005, Kohl's will continue adding new brands like Chaps, Candie's, and The Backyardigans to draw customers and differentiate its merchandise. It will also enhance the store experience through improved navigation and presentation.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
The document is a transcript from The Home Depot's 2008 Investor Day conference. Frank Blake, the company's CEO, provides an overview of the company's strategic focus on improving the core retail business, exercising disciplined capital allocation, increasing returns on existing assets, and building sustained competitive advantages. He highlights progress made on priorities like associate engagement and product availability. While housing market conditions remain difficult, Blake emphasizes the company's long term strategy and goals, such as becoming a best in class merchandiser.
The document is Wal-Mart's 2005 annual report. It discusses Wal-Mart's record financial results for fiscal year 2005, including record sales and earnings of over $285 billion in revenues and $10 billion in net income. It also discusses Wal-Mart's plans for continued growth, including opening approximately 530 new stores in the coming year across the US and internationally. The annual report emphasizes Wal-Mart's focus on its employees and career opportunities for associates, and it expresses optimism about Wal-Mart's future prospects for growth.
This document discusses strategies for the turnaround of struggling grocery chain Supervalu, including recommendations to close underperforming stores and distribution centers, reduce headcount and benefits, tighten credit, and convert owned Save-A-Lot stores to franchises. It compares Supervalu's management and financial struggles to other chains like Safeway and A&P. Forward strategies involve identifying and closing unprofitable locations while investing in others, followed by downsizing headcount and streamlining costs. Projections estimate financial improvement from cost cuts and debt refinancing.
2008 C I R C L E K F R A N C H I S E B R O C H U R EChristie Cheung
The document provides information about the Circle K franchise opportunity. It describes Circle K as offering superior business systems, extensive training, and effective promotional tools to franchisees. Franchisees are provided with ongoing business support and access to Circle K's established brand and heritage. Interested individuals can explore obtaining a Circle K franchise license to operate a convenience store.
- In fiscal 2004, SUPERVALU reported sales of $20.2 billion and net earnings of $280 million. It achieved its lowest debt-to-capital ratio in over a decade and return on invested capital of 14.1%.
- Key accomplishments included strong comparable store sales growth across its retail banners and completing work to accelerate growth at its Save-A-Lot format, including converting stores and opening 75 new stores.
- In distribution, it took steps to improve capacity utilization rates and implement efficiency initiatives while expanding its non-asset based logistics platform.
great atlantic & pacific tea Annual_Report_2006finance33
A&P made significant progress in fiscal 2006 by improving operating performance and continuing its strategic transformation. Key accomplishments included improved sales trends in core Northeast banners, positive EBITDA performance, converting 24 conventional stores to its fresh format, successfully launching the discounted Food Basics format, and introducing the new Food Emporium fine foods concept. A&P also continued reducing costs from previous initiatives while pursuing cost savings opportunities. The company accelerated its store reformatting plans and launched new store concepts to depart from the "middle ground" of the market.
This annual report summarizes MeadWestvaco Corporation's financial performance and operations in 2003. The report discusses the company's vision, values, and business segments. It highlights that 2003 was challenging due to market weakness and high costs, but that the company responded with discipline and positioned itself for future profitability. The letter to shareholders indicates a focus on rewarding investors with profitable growth and a minimum annual return of 10% on capital.
MeadWestvaco is transforming its business model to improve returns for shareholders by focusing on packaging, capturing global growth opportunities in packaging, and executing a land strategy. The company is improving operating results through initiatives to accelerate growth, improve margins, and execute land sales. MeadWestvaco is well-positioned to capture maximum value from its land holdings through development projects and exploring alternative ownership structures.
Dokumen tersebut memberikan informasi mengenai sejarah, visi, misi, kompetitor utama, analisis SWOT, dan strategi bisnis Family Dollar Store. Family Dollar didirikan pada tahun 1959 dan telah berkembang menjadi rantai toko ritel yang menjual barang-barang kebutuhan sehari-hari dengan harga murah di seluruh Amerika Serikat.
Owens & Minor reported financial results for the second quarter of 2008. Revenue increased 2.3% from the second quarter of 2007 to $1.795 billion. Gross margin as a percentage of revenue was 10.67%, up slightly from the prior year. Selling, general and administrative expenses decreased as a percentage of revenue. Earnings per diluted share increased 22% to $0.59 compared to the second quarter of 2007. For 2008, the company expects revenue growth between 5-7% and earnings per diluted share between $2.30-$2.40, up from previous guidance.
This document outlines the code of honor and standards of conduct for Owens & Minor, a supply chain management company. It establishes their mission, vision, and values, which center around integrity, ethics, customer service, community support, and shareholder value. The code of honor applies to all employees and directors and is designed to ensure compliance with laws and the highest ethical standards. It addresses topics like diversity, harassment, conflicts of interest, gifts, and financial reporting. Employees are responsible for understanding and upholding the code, and can report any suspected violations without retaliation through multiple confidential channels. Violations will be investigated and disciplined accordingly.
great atlantic & pacific tea Annual_Report_2004finance33
This document is the annual report of The Great Atlantic & Pacific Tea Company for fiscal year 2004. It includes the CEO's letter to stockholders, which outlines improvements in financial performance and position in 2004 due to strong results in A&P Canada and cost cutting measures in the US. It also announces plans to divest the company's Canadian and Midwest operations to focus resources on growing its core Northeast US business. The management discussion and analysis provides an overview of the company's operations and reviews its financial results and outlook.
The document provides an overview of Dollar Tree's business strategy. It analyzes Dollar Tree's financials, products/services, competitors, and external environment. It then proposes developing "Dollar Dome" vending machines for college campuses, arguing it would provide a new customer base and revenue stream while aligning with opportunities around convenience shopping trends. Strengths include entering a new market with little competition and appealing to cost-conscious college students.
Family Dollar is one of the fastest growing discount store chains in the US. Over the past 10 years, Family Dollar has added over 4,000 new stores, with over half being opened in the last 5 years. Family Dollar provides customers good values on basic merchandise for families and homes at everyday low prices in small neighborhood stores. Most merchandise is priced under $10.
Dollar General is considering ways to effectively focus their growth. They are a dollar store chain founded in 1939 that has expanded to over 8,000 stores across 35 states. Alternatives proposed include expanding into California, urban or rural areas, a joint venture with Walgreens, adding money services or a pharmacy, changing store formats, partnering with Walmart, pursuing horizontal integration, expanding internationally to Canada, going private, or expanding product offerings. Each alternative was analyzed in terms of pros and cons related to costs, market potential, risks, and fit with Dollar General's business model and customer base.
Family Dollar provides an internal assessment of its current mission, vision, organizational structure, financial performance, and strengths and weaknesses. It also analyzes external factors like competitors, opportunities, and threats in the market. Based on this analysis, Family Dollar considers strategies to expand internationally, improve technology, reward employees, and provide more affordable products and community support. The document outlines tools to formulate strategies like focusing on core low-price products, pursuing strategic acquisitions, and strengthening competitive positioning through international expansion.
The document is Dillard's, Inc.'s 2006 annual report. It discusses Dillard's strong financial results in 2006, including record earnings per share. It attributes this success to changes made to improve its merchandise mix and appeal to customers seeking upscale, contemporary fashion. These changes included launching a new branding campaign called "Dillard's - The Style of Your Life" and focusing on presenting fashionable merchandise from recognized national brands. Going forward, Dillard's plans to open nine new stores in 2007 and continue strengthening customer relationships through an emphasis on fashion, quality, and value.
1) Charles & Colvard introduced its new Forever Brilliant moissanite brand which is whiter, brighter, and more appealing to customers.
2) In 2011, the company increased revenues by 26% and gross profits exceeded 59% while investing in new initiatives like its e-commerce website Moissanite.com and home party brand Lulu Avenue.
3) The company believes innovation will drive long-term growth and its new Forever Brilliant moissanite gemstone, which is whiter than previous versions, opens opportunities in new markets like Asia.
Target Corporation achieved record financial performance in 2005 through consistent execution of its strategy. It maintained its focus on creativity and innovation, expanded its food assortment, continued disciplined store expansion, and invested in technology and infrastructure. This resulted in considerable market share gains, surpassing $50 billion in annual sales and generating a 31% increase in earnings per share. Target is well positioned to build on this success through continued focus on newness, innovation, and delivering great design and value.
Coast Wholesale Appliances Inc. reported higher first quarter 2013 sales and profits compared to the previous year. Sales increased 14.4% to $34.4 million due to a 25.2% rise in builder segment sales. Gross profit grew 7.8% to $7.4 million, though margins declined due to competitive pressures. EBITDA increased 74% to $1.1 million through higher revenues and cost controls. The company continued initiatives to enhance stores and expand product offerings to increase sales and profits.
In 2004, Kohl's expanded its brand selection and introduced several new exclusive brands to attract more customers. Financial highlights show sales and profits increased over 13-22% from the previous year. In 2005, Kohl's will continue adding new brands like Chaps, Candie's, and The Backyardigans to draw customers and differentiate its merchandise. It will also enhance the store experience through improved navigation and presentation.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
The document is a transcript from The Home Depot's 2008 Investor Day conference. Frank Blake, the company's CEO, provides an overview of the company's strategic focus on improving the core retail business, exercising disciplined capital allocation, increasing returns on existing assets, and building sustained competitive advantages. He highlights progress made on priorities like associate engagement and product availability. While housing market conditions remain difficult, Blake emphasizes the company's long term strategy and goals, such as becoming a best in class merchandiser.
The document is Wal-Mart's 2005 annual report. It discusses Wal-Mart's record financial results for fiscal year 2005, including record sales and earnings of over $285 billion in revenues and $10 billion in net income. It also discusses Wal-Mart's plans for continued growth, including opening approximately 530 new stores in the coming year across the US and internationally. The annual report emphasizes Wal-Mart's focus on its employees and career opportunities for associates, and it expresses optimism about Wal-Mart's future prospects for growth.
This document discusses strategies for the turnaround of struggling grocery chain Supervalu, including recommendations to close underperforming stores and distribution centers, reduce headcount and benefits, tighten credit, and convert owned Save-A-Lot stores to franchises. It compares Supervalu's management and financial struggles to other chains like Safeway and A&P. Forward strategies involve identifying and closing unprofitable locations while investing in others, followed by downsizing headcount and streamlining costs. Projections estimate financial improvement from cost cuts and debt refinancing.
2008 C I R C L E K F R A N C H I S E B R O C H U R EChristie Cheung
The document provides information about the Circle K franchise opportunity. It describes Circle K as offering superior business systems, extensive training, and effective promotional tools to franchisees. Franchisees are provided with ongoing business support and access to Circle K's established brand and heritage. Interested individuals can explore obtaining a Circle K franchise license to operate a convenience store.
- In fiscal 2004, SUPERVALU reported sales of $20.2 billion and net earnings of $280 million. It achieved its lowest debt-to-capital ratio in over a decade and return on invested capital of 14.1%.
- Key accomplishments included strong comparable store sales growth across its retail banners and completing work to accelerate growth at its Save-A-Lot format, including converting stores and opening 75 new stores.
- In distribution, it took steps to improve capacity utilization rates and implement efficiency initiatives while expanding its non-asset based logistics platform.
great atlantic & pacific tea Annual_Report_2006finance33
A&P made significant progress in fiscal 2006 by improving operating performance and continuing its strategic transformation. Key accomplishments included improved sales trends in core Northeast banners, positive EBITDA performance, converting 24 conventional stores to its fresh format, successfully launching the discounted Food Basics format, and introducing the new Food Emporium fine foods concept. A&P also continued reducing costs from previous initiatives while pursuing cost savings opportunities. The company accelerated its store reformatting plans and launched new store concepts to depart from the "middle ground" of the market.
This annual report summarizes MeadWestvaco Corporation's financial performance and operations in 2003. The report discusses the company's vision, values, and business segments. It highlights that 2003 was challenging due to market weakness and high costs, but that the company responded with discipline and positioned itself for future profitability. The letter to shareholders indicates a focus on rewarding investors with profitable growth and a minimum annual return of 10% on capital.
MeadWestvaco is transforming its business model to improve returns for shareholders by focusing on packaging, capturing global growth opportunities in packaging, and executing a land strategy. The company is improving operating results through initiatives to accelerate growth, improve margins, and execute land sales. MeadWestvaco is well-positioned to capture maximum value from its land holdings through development projects and exploring alternative ownership structures.
Dokumen tersebut memberikan informasi mengenai sejarah, visi, misi, kompetitor utama, analisis SWOT, dan strategi bisnis Family Dollar Store. Family Dollar didirikan pada tahun 1959 dan telah berkembang menjadi rantai toko ritel yang menjual barang-barang kebutuhan sehari-hari dengan harga murah di seluruh Amerika Serikat.
Owens & Minor reported financial results for the second quarter of 2008. Revenue increased 2.3% from the second quarter of 2007 to $1.795 billion. Gross margin as a percentage of revenue was 10.67%, up slightly from the prior year. Selling, general and administrative expenses decreased as a percentage of revenue. Earnings per diluted share increased 22% to $0.59 compared to the second quarter of 2007. For 2008, the company expects revenue growth between 5-7% and earnings per diluted share between $2.30-$2.40, up from previous guidance.
This document outlines the code of honor and standards of conduct for Owens & Minor, a supply chain management company. It establishes their mission, vision, and values, which center around integrity, ethics, customer service, community support, and shareholder value. The code of honor applies to all employees and directors and is designed to ensure compliance with laws and the highest ethical standards. It addresses topics like diversity, harassment, conflicts of interest, gifts, and financial reporting. Employees are responsible for understanding and upholding the code, and can report any suspected violations without retaliation through multiple confidential channels. Violations will be investigated and disciplined accordingly.
great atlantic & pacific tea Annual_Report_2004finance33
This document is the annual report of The Great Atlantic & Pacific Tea Company for fiscal year 2004. It includes the CEO's letter to stockholders, which outlines improvements in financial performance and position in 2004 due to strong results in A&P Canada and cost cutting measures in the US. It also announces plans to divest the company's Canadian and Midwest operations to focus resources on growing its core Northeast US business. The management discussion and analysis provides an overview of the company's operations and reviews its financial results and outlook.
The document provides an overview of Dollar Tree's business strategy. It analyzes Dollar Tree's financials, products/services, competitors, and external environment. It then proposes developing "Dollar Dome" vending machines for college campuses, arguing it would provide a new customer base and revenue stream while aligning with opportunities around convenience shopping trends. Strengths include entering a new market with little competition and appealing to cost-conscious college students.
Family Dollar is one of the fastest growing discount store chains in the US. Over the past 10 years, Family Dollar has added over 4,000 new stores, with over half being opened in the last 5 years. Family Dollar provides customers good values on basic merchandise for families and homes at everyday low prices in small neighborhood stores. Most merchandise is priced under $10.
Dollar General is considering ways to effectively focus their growth. They are a dollar store chain founded in 1939 that has expanded to over 8,000 stores across 35 states. Alternatives proposed include expanding into California, urban or rural areas, a joint venture with Walgreens, adding money services or a pharmacy, changing store formats, partnering with Walmart, pursuing horizontal integration, expanding internationally to Canada, going private, or expanding product offerings. Each alternative was analyzed in terms of pros and cons related to costs, market potential, risks, and fit with Dollar General's business model and customer base.
Family Dollar provides an internal assessment of its current mission, vision, organizational structure, financial performance, and strengths and weaknesses. It also analyzes external factors like competitors, opportunities, and threats in the market. Based on this analysis, Family Dollar considers strategies to expand internationally, improve technology, reward employees, and provide more affordable products and community support. The document outlines tools to formulate strategies like focusing on core low-price products, pursuing strategic acquisitions, and strengthening competitive positioning through international expansion.
- The document is the 2008 annual report and letter to stakeholders of Whole Foods Market.
- In 2008, Whole Foods saw sales growth of 24% but comparable store sales growth slowed to 5% due to economic challenges. They opened 20 new stores.
- Actions were taken to reduce costs and slow growth, including job cuts, reducing new store openings, and suspending the dividend. Additional funding was obtained through the sale of preferred stock.
- The economic challenges prompted a more value-oriented approach and efforts to differentiate Whole Foods' product selection.
This document is The Home Depot's 2007 Annual Report. It provides a summary of the company's financial performance for 2007, including net sales, net earnings, earnings per share, total assets, liabilities, and store count. It discusses investments made in areas like associate engagement, product excitement, availability, shopping environment, and serving professional customers. It also summarizes international performance, the company strategy of focusing on retail operations, and capital allocation plans. The report is addressed to shareholders, associates, customers, suppliers and communities.
The document is Wal-Mart's 2005 annual report. It discusses Wal-Mart's record financial results for fiscal year 2005, including over $285 billion in global revenues and over $10 billion in net income. It also discusses Wal-Mart's growth prospects, including plans to open over 500 new stores in the coming year across the US and internationally. The report emphasizes Wal-Mart's continued focus on low prices, better inventory, career opportunities for associates, and giving back to local communities.
The document provides an annual report for Whole Foods Market for the 2007 fiscal year. It summarizes the company's strong financial performance including 15% sales growth and 7% comparable store sales growth. It details strategic initiatives like acquiring Wild Oats Markets and emphasizes the company's stakeholder philosophy of balancing interests of customers, employees, shareholders, and communities. It expresses optimism for continued growth through new store openings and meeting a goal of $12 billion in sales by 2010.
This annual report summarizes the company's fiscal year 2004 performance and goals for fiscal year 2005. In fiscal year 2004, the company achieved 17% revenue growth to $24.5 billion by opening new stores and increasing comparable store sales by 7.1%. Earnings from continuing operations increased 29% through higher revenue and operating income. For fiscal year 2005, the company aims to grow revenue 11-13% by opening new stores and earn comparable sales gains, while increasing diluted EPS 15-20%. The company is also transforming its business through a customer centricity initiative to improve customer service and engagement.
- The document is Whole Foods Market's 2008 annual report letter to stakeholders. It discusses the challenges of 2008 due to economic deterioration but reports overall sales growth of 24% and comparable store sales growth of 5%.
- Key initiatives in 2008 included integrating Wild Oats stores, opening 20 new stores, and implementing cost containment measures like job cuts to prepare for economic challenges.
- Moving forward, Whole Foods plans to focus on value and cost containment while still pursuing growth, aiming to open 15 new stores in 2009.
This annual report summarizes the company's performance in 2008. It discusses challenges faced due to economic deterioration, but also growth through new store openings and sales increasing 24% to $8 billion. Cost-cutting measures were implemented and an investment was received to ensure liquidity during difficult times. The company remains committed to its core values like high quality, customer satisfaction, and social/environmental responsibility. Future outlook expects stabilization and growth through improvements and increased value perception, but comparable sales growth for 2009 was not predicted due to economic uncertainty.
This annual report summarizes the company's performance in 2008. It discusses challenges faced due to economic deterioration, but also growth through new store openings and sales increasing 24% to $8 billion. Cost-cutting measures were implemented to prepare for a difficult economy. An investment of $425 million by Leonard Green & Partners provides confidence. The company focuses on differentiating its high-quality products and strengthening its value image. Future sales growth will depend on economic stabilization and improvements in acquired stores.
This annual report summarizes Jarden Corporation's financial performance in 2005. It discusses the company's acquisition of American Household and The Holmes Group, which expanded its consumer solutions segment. It also highlights initiatives across its various business segments, including new product introductions, employee programs, and efforts to improve operations. The Chairman expresses pride in the company's strong growth and record results in 2005, with revenues reaching $3.2 billion, nearly halfway to its goal of doubling EPS within 3 to 5 years.
- The document provides an overview of Continental Biscuits Limited (CBL), a biscuit manufacturing company in Pakistan with a 50.5% stake held by Kraft Foods.
- CBL owns the popular LU biscuit brand and has a manufacturing plant in Sukkur and head office in Karachi employing over 2,300 people total.
- CBL's main competitor is English Biscuit Manufacturers (EBM), which dominates the Pakistani biscuit market under its Peek Freans brand. EBM has been gaining market share with new products like its Farm House cookies.
- The presentation recommends ways for CBL to compete, such as product innovation, improved packaging/quality, increased distribution,
This document is The Home Depot's annual report for the year 2000. It includes letters from the founders and the new CEO, Robert Nardelli. It summarizes the company's financial performance for the year, with sales of $45.7 billion and net earnings of $2.6 billion. While it was a challenging year due to economic slowdown, the report emphasizes the company's continued growth opportunities through new stores, product expansion, and operational improvements. The CEO outlines five business imperatives to drive future success, including customer service, innovation, and leadership development.
1) Whole Foods Market saw sales growth of 24% in 2008 to $8 billion but comparable store sales increased only 5% as challenges from the deteriorating economy hurt sales. 2) Actions taken to address the economic challenges included cost cuts, reducing new store openings, and raising $425 million from an investor. 3) Looking ahead, the company expects sales to stabilize in 2009 driven by improvements in acquired Wild Oats stores and continued focus on value, quality, and differentiation.
1) Whole Foods Market saw sales growth of 24% in 2008 to $8 billion but comparable store sales grew only 5% as challenges from the deteriorating economy hurt sales in the second half of the year.
2) Actions taken to prepare for a prolonged downturn included job cuts, fewer new store openings, capital expenditure cuts, dividend suspension, and raising $425 million from an investor.
3) While 2008 was challenging, the company believes its focus on quality, value, animal welfare and the environment will allow it to retain leadership in natural and organic foods retailing over the long term.
1) Whole Foods Market saw sales growth of 24% in 2008 to $8 billion but comparable store sales increased only 5% as challenges from the deteriorating economy hurt sales. 2) Actions taken to address the economic challenges included cost cuts, reducing new store openings, and raising $425 million from an investor. 3) Looking ahead, the company expects sales to stabilize in 2009 driven by improvements in acquired Wild Oats stores and continued focus on value, quality, and differentiation.
The Campbell North America division had sales of $5.2 billion in fiscal 2004. Its portfolio includes leading brands like Campbell's, Pace, Prego, Swanson, Pepperidge Farm, and Godiva. The division sees opportunities to grow the U.S. soup business through convenient ready-to-serve soups and expanding production capacity. It will also continue investing in growth drivers like V8, Pepperidge Farm, Prego, Pace, and Godiva while supporting the core soup franchise.
Ball Corporation is a leading provider of metal and plastic packaging for beverages and foods. In 2001, Ball reported a net loss of $1.85 per share due to business consolidation charges, but excluding these charges earnings were $1.78 per share. Ball took actions to improve its packaging operations in China and North America to better position them for the future. Ball also expects solid performance in 2002 and beyond as it builds on its strengths of quality, customer relationships, and creative employees.
This document is Ball Corporation's 2001 annual report. It provides an overview of Ball Corporation, including that it is a leading provider of metal and plastic packaging for beverages and foods, as well as aerospace technologies. It discusses Ball's vision, mission, and strategy. The report notes challenges in 2001 from rising costs but performance was still slightly below 2000 levels when excluding charges. It describes actions taken to improve Ball's packaging and aerospace operations and position them for future growth.
1. Rite Aid completed a major acquisition of Brooks Eckerd in 2008, increasing its store count by over 50% overnight. However, the integration proved more challenging than expected as the economy weakened.
2. While Rite Aid fell short of its financial targets for the year, it made significant progress integrating the acquired stores and capturing synergies. All six distribution centers and two-thirds of store systems were converted.
3. Looking ahead, Rite Aid's priorities are to fully complete the integration, increase productivity in all stores through customer loyalty programs and prescription growth, and effectively control expenses to improve profitability.
The annual report summarizes Whole Foods Market's financial performance and operations in 2006. It discusses record sales and profit growth, new store openings, commitment to stakeholders, and goals for continued expansion. Key highlights include double-digit comparable store sales growth, increased market share, and a plan to double sales and square footage by 2010 while maintaining a focus on core values.
The annual report summarizes Whole Foods Market's financial performance and operations in 2006. It discusses record sales and profit growth, new store openings, commitment to stakeholders, and goals for continued expansion. Key highlights include double-digit comparable store sales growth, increased market share, and a plan to double sales and square footage by 2010 while maintaining a focus on core values.
Similar to family dollar stores Annual Report2005 (20)
The McGraw-Hill Companies 2006 Annual Report summarizes the company's strong financial performance and positions it for continued growth.
1) McGraw-Hill achieved record revenue of $6.3 billion and net income of $882 million in 2006. It also returned $1.8 billion to shareholders through dividends and share repurchases, with a total shareholder return of 33.5%.
2) The company's strategy focuses on expanding globally, developing digital and technology-driven solutions, and investing in its businesses. All business segments are expected to contribute to continued growth in 2007.
3) McGraw-Hill is well-positioned to capitalize on trends in global capital markets, education
1) The McGraw-Hill Companies achieved record financial results in 2007, with revenue growing 8.3% to $6.8 billion and net income rising 14.9% to $1 billion, however challenges emerged as the US housing bubble burst.
2) The company remains focused on providing high-quality information and insights to help customers succeed, while generating superior shareholder value through consistent earnings growth and returning $2.5 billion to shareholders in 2007.
3) While the current market turmoil is difficult to predict, the long-term prospects for the company's markets remain strong due to enduring global trends of needing capital, knowledge, and transparent business information.
The document is McGraw-Hill's 2008 annual report which discusses the financial challenges faced by the company that year due to the global recession. It summarizes that revenue declined 6.2% to $6.4 billion while net income fell 21.1% to $799.5 million. However, the company remained profitable and had a strong balance sheet which positioned it well to weather the economic storm. The report discusses questions around what caused the financial crisis, the role of credit ratings, and trends that will shape future capital markets and opportunities.
This document outlines the bylaws of Owens & Minor, Inc. regarding meetings of shareholders and directors.
It specifies details such as the timing and notification requirements for annual shareholder meetings, what constitutes a quorum, voting procedures, and the process for nominating directors or proposing other business. Shareholders must give advance notice to the Secretary of any intent to nominate directors or propose other business to be considered at the annual meeting. The Chairman of the Board has the power to determine if any nominations or proposals were made in accordance with the bylaw procedures.
This document outlines the bylaws of Owens & Minor, Inc. regarding meetings of shareholders and the board of directors. It discusses where shareholder and board meetings will take place, how notice will be provided, what constitutes a quorum, voting procedures, and rules regarding nominating directors and proposing other business. It also establishes committees like the executive committee and allows the board to form other committees. Finally, it specifies that the officers will consist of a CEO, President, Secretary, and Treasurer and allows for other officers to be elected.
This document outlines the code of honor and standards of conduct for Owens & Minor, a supply chain management company. It establishes their mission, vision, and values which center around integrity, ethics, customer service, community support, and shareholder value. The code of honor applies to all employees and directors and is designed to ensure compliance with laws and the highest ethical standards. It addresses topics like diversity, harassment, conflicts of interest, gifts, and financial reporting. Employees are responsible for understanding and upholding the code, and can report any suspected violations without fear of retaliation. Violating the code can result in disciplinary action up to termination.
This document outlines the Corporate Governance Guidelines of Owens & Minor, Inc. It discusses the board composition and structure, including director qualifications and independence standards. It also covers director responsibilities, such as basic responsibilities and separation of chairman and CEO roles. Additionally, it addresses board committees, director access to officers, director compensation, and the annual evaluation of the CEO and board performance. The guidelines are intended to ensure strong corporate governance and an effective and independent board.
This document outlines the Corporate Governance Guidelines of Owens & Minor, Inc. It discusses the board composition and structure, including director qualifications and independence standards. It also covers director responsibilities, such as basic responsibilities and separation of chairman and CEO roles. Additionally, it addresses board committees, director access to officers, director compensation, and the annual performance evaluation process.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter details the Committee's responsibilities related to financial statements, the independent auditor, internal auditing, legal/ethical compliance, and receiving/investigating complaints.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter provides that the Audit Committee will meet regularly with management and the independent auditor to review the company's financial reporting, accounting policies, internal controls, legal/regulatory compliance, and auditing matters.
The document outlines the charter for the Governance & Nominating Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors appointed annually by the board. The committee is responsible for identifying and nominating qualified board candidates and committee members and overseeing corporate governance policies. It is also tasked with annually evaluating board performance and CEO performance, succession planning, and reviewing its own charter. The charter provides the framework for the committee's composition, objectives, authority, responsibilities, and procedures.
The document outlines the charter for the Governance & Nominating Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors appointed annually by the board. The committee is responsible for identifying and nominating qualified board candidates and committee members and overseeing corporate governance policies. It is also tasked with annually evaluating board performance and CEO performance, succession planning, and reviewing its own charter. The charter provides the framework for the committee's composition, objectives, authority, responsibilities, and procedures.
The document outlines the charter for the Compensation & Benefits Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors who are responsible for overseeing compensation plans and policies, evaluating executive performance, determining compensation for officers including the CEO, and ensuring compliance with regulatory requirements. The charter grants the committee authority to retain outside advisors as needed and sets expectations for regular meetings and annual reviews of committee performance and charter.
The document outlines the charter for the Compensation & Benefits Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors who are responsible for overseeing compensation plans and policies for the company's officers. The committee's primary objectives are to independently review and approve officer compensation. Key duties include annually evaluating the CEO's performance and compensation, administering compensation plans, and preparing required disclosures regarding executive pay.
Owens & Minor reported financial results for the 1st quarter of 2007. Revenue grew 33.6% to $1.7 billion including $282.5 million from the recently acquired McKesson business. Diluted earnings per share were $0.27, impacted by $0.12 per share dilution from the McKesson transition. The outlook for 2007 remains unchanged with revenue growth of 15-20% and diluted EPS between $1.85-$1.95, with stronger revenue growth expected in the first three quarters due to the timing of the McKesson acquisition.
Owens & Minor reported its 3rd quarter 2007 financial results, with revenue increasing slightly from the previous quarter to $1.687 billion. Gross margins remained steady at 10.6% of revenues. Selling, general and administrative expenses decreased to 7.8% of revenues. As a result, operating earnings improved to 2.4% of revenues, up from 1.5% in the previous quarter. Diluted earnings per share increased to $0.52 from $0.36 in the prior quarter.
This document summarizes Owens & Minor's 2007 Investor Day presentation. The presentation discussed Owens & Minor's value proposition to customers, which includes a nationwide distribution footprint, experienced workforce, long-standing customer relationships, and 125 years of expertise in healthcare supply chain management. It also outlined opportunities to expand relationships through supply chain management services, using technology and data to improve visibility and reduce costs, and providing expertise in areas like inventory management, logistics, and clinical support services. The presentation noted the large market opportunity in the healthcare supply chain sector and Owens & Minor's goal of being a strategic partner to customers.
The Johns Hopkins Health System consists of several hospitals and provides over 3 million meals and services to over 82,000 patients annually. It aims to achieve "best in class" status through consolidating procurement, building an efficient receiving facility, redesigning distribution facilities, implementing supply chain metrics, and partnering with suppliers. Challenges include standardizing processes while supporting small businesses and ensuring adequate staffing and training.
The document outlines Owens & Minor's 2007 Investor Day presentation which discusses the company's strategic direction and financial outlook. It provides an overview of Owens & Minor's market position as a leading distributor of medical supplies, its focus on customer service excellence and partnerships with suppliers. The presentation also reviews the company's financial performance, goals to expand into new product lines and markets, and outlook for continued revenue growth and margin improvement in 2008.
Owens & Minor reported their 4th quarter 2007 financial results, with revenue increasing 7% year-over-year to $1.748 billion, gross margin remaining steady at 10.6% of revenue, and earnings per share growing 20% to $0.55. For 2008, the company expects revenue to increase 5-7% outpacing industry growth, earnings per share to rise 23-28% to $2.20-$2.30, and capital expenditures to be $25-35 million.
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2. Corporate Profile Family Dollar Stores, Inc., operates a chain of almost
6,000 retail discount stores in 44 states. We have provided value-conscious
consumers with competitive prices in our neighborhood stores for more
than 46 years. Our stores offer a core assortment of name-brand and
quality consumable merchandise supplemented by fashion and seasonal
merchandise at everyday low prices in a convenient, self-service shopping
environment. Most merchandise is priced under $10.00.
Family Dollar is one of the fastest growing retail chains in the United
States. During the last five years, we have opened nearly 2,200 new stores,
including 500 that were opened during the year ended August 27, 2005.
Family Dollar operates small stores, generally ranging in size from
7,500 to 9,500 square feet, and most are operated in leased facilities. The
relatively small store size permits the Company to operate in rural, small
town, suburban and urban areas. Within these markets, stores are located
in shopping centers, freestanding buildings or in urban storefronts
convenient to the Company’s value-conscious customer base.
The Company has been a publicly held corporation since 1970, and its
Common Stock is listed on the New York Stock Exchange under the ticker
symbol FDO.
3. value Family Dollar Stores, Inc.
At the heart of Family Dollar’s mission is
the determination to provide exceptional
value to the people who are the most
important to us — our Shareholders, our
Customers and our Associates.
The Cooler Initiative: Our stores provide value and convenience to
our Customers through an expanded food assortment, which includes
refrigerated coolers for those frequent ‘milk and eggs’ fill-in trips.
Offering family staples in both perishable and non-perishable foods
keeps our Customers coming back day after day.
The Urban Initiative: The Urban Initiative addresses the opportunities
and challenges of operating in urban markets. Better Customer service
and store presentation standards, a more flexible organizational structure
and improved processes drive higher financial performance, creating
value for our Shareholders, our Customers and our Associates.
The Treasure Hunt Initiative: Our Customers appreciate the tremendous
value we deliver by offering both exciting and unique Treasure Hunt items,
as well as our everyday home and family necessities that they count on.
The New Store Initiative: By expanding into new areas and increasing
our presence in existing markets, our stores provide value and
neighborhood convenience to one of the fastest growing, yet vastly
under-served consumer segments.
Our Associates: Family Dollar’s most valuable asset is our team of
talented and dedicated Associates. We are committed to providing the
skills and development tools to allow our Associates to build not just
a job, but a career with us.
4. value To Our Shareholders
As a fellow Shareholder, this is a difficult letter to write.
While we achieved a record $5.8 billion in sales in fiscal
2005, a 10.3% increase above 2004, net income was $217.5
million, a decrease of 15.7% — our first decline in earnings
since 1995. Despite these disappointing financial results,
I am more excited than ever about our Company’s future
prospects and our ability to create value for our Customers, we could capture a larger portion of our Customers’
for our Associates, and for you, our Shareholders. limited wallet.
We now operate approximately 6,000 stores, and we Second, we invested aggressively in our business to
believe there is ample opportunity to grow the size of our deliver greater long-term value for our Customers, our
chain to better serve our expanding customer base. New Associates and our Shareholders. During our 46-year
geographical markets like California remain future growth history, we have made significant investments that affected
opportunities, and our Urban Initiative creates additional short-term results but ultimately delivered long-term gains.
store expansion opportunities in large metropolitan markets, For example, in 1995, we made strategic investments
which are largely under-served by other retailers. Our target in support of our everyday low pricing strategy which
Customer, the low and lower-middle income population, had an adverse impact on our financial results that year —
has experienced significant growth. Over the last five years, net income declined 7.9%. Although not as quantifiable
the number of people making less than $25,000 in annual then, the long-term benefits are now clear: our Customers
household income has increased more than ten percent, benefited from lower prices, our Associates benefited
and the number of families with income below the from less complicated merchandising strategies, and our
poverty level has grown almost eight percent. Clearly, earnings grew at a double-digit rate in the ensuing years.
an increasing number of people need the values that During 2005, we again made significant investments
Family Dollar offers. in our business to create greater value for our Customers,
As I reflect on our performance in 2005, I believe that our Associates, and our Shareholders. To drive higher sales
two factors affected our results: a challenging economic and stronger profitability in both bullish and bearish
environment and an aggressive investment agenda. economic environments, we invested in four strategic
First, while our operational performance can always be initiatives last year: the installation of refrigerated coolers
better, the economic environment for our low and lower- for the sale of perishable food; the Urban Initiative; our
middle income Customer was challenging last year. Treasure Hunt merchandise program; and new stores.
The average cost of gasoline continued to soar in 2005, We remain confident that these initiatives create a strong
capturing a larger share of foundation for our future growth. But that doesn’t mean
our Customers‘ already that every initiative performed equally well. In 2006, we
strained budgets. As will increase investment in those initiatives that performed
Percentage of Consumer
Households that Shopped energy costs increased, well in 2005 to drive additional returns, and we will refine
in a Dollar Store our Customers had less and enhance initiatives that have not yet met our
disposable income and expectations, so that we may accelerate investment for
bought fewer discretionary higher returns in the future.
items. In response, we We are positioning Family Dollar to satisfy those fill-in
continued to increase food shopping trips that our Customers make frequently. At
the value and selection the beginning of 2005, we had planned to install refrigerated
of basic consumable coolers for the sale of perishable food in 500 stores.
merchandise, like However, our Customers reacted so quickly and positively to
55%
59%
62%
66%
67%
68%
perishable food, so that the program that we doubled our initial plan and installed
’00 ’01 ’02 ’03 ’04 ’05
Source: ACNielsen Homescan Consumer Insights 2005
2
5. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
“We are committed to delivering value to our Shareholders, our Customers
and our Associates as we position Family Dollar for future profitable growth.”
refrigerated coolers in about 1,000 stores last year. This year of new store openings will enable us to more efficiently
we will expand the rollout to an additional 2,500 stores, and accelerate our growth in the future.
by the end of 2006, more than half of our chain will have We continue to build our management team with
refrigerated coolers. strong talent to support our growth opportunity. Some
In 2005, we launched our Urban Initiative in 1,200 excellent new players have joined our talented team of
stores to address the unique challenges of operating high- seasoned veterans, and we have realigned our senior
volume stores in large metropolitan markets. The Urban management structure to better support our cross-
Initiative is designed to increase profitability in these functional strategic agenda. As I assess Family Dollar
markets through investments in people, process changes today, I believe that we have a strong, cohesive team,
and technology, including organizational changes to and our new management alignment is having a tangible
support a more mobile and flexible workforce. While impact on our results.
stores in the Urban Initiative experienced higher than In the fourth quarter of 2005, our Board of Directors
average sales growth and continued to be profitable, the authorized the repurchase of $300 million of the
program did not achieve our profitability goals in 2005. Company’s Common Stock. In September 2005, we took
We will continue to invest in the current Urban Initiative advantage of a compelling stock price and a favorable
markets in 2006, but we will not expand the program into interest rate environment to repurchase ten million shares
new markets until we have refined processes and of Family Dollar Common Stock using proceeds of a $250
generated expected results. million private placement of long-term debt. The issuance
We experienced one of our strongest holiday seasons of debt when combined with the stock repurchase program
ever in 2005, generating comparable store sales increases will enhance Shareholder value while continuing to
of 5% in November and 4% in December. The addition of maintain a strong financial position.
exciting Treasure Hunt merchandise drove these results as Fiscal 2005 was a challenging year, but, thanks to the
our Customers were delighted to find unexpected holiday hard work of all of our Associates, we made significant
“treasures” at Family Dollar. We will expand our Treasure progress in building the foundation upon which we intend
Hunt merchandise program in 2006 to include more to increase our market share and profitability. I remain
surprises for our Customers, better in-store presentations excited about the growth opportunity that exists for our
and improved merchandise allocations to stores to drive Company, and I am confident in our ability to realize this
higher inventory turns. opportunity and deliver value to our Customers, our
In 2005, we continued our aggressive store expansion Associates, and you, our Shareholders.
program with the opening of 500 new stores, but the
timing of new store openings was weighted heavily toward
the end of the fiscal year, increasing costs and operational
inefficiencies. While we will maintain our commitment to
new store growth with plans to open about 400 new stores HOWARD R. LEVINE
in 2006, this slower rate of growth will allow us to focus on CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER
November 2005
building processes to support an even distribution of store
openings throughout the year. Creating a more steady flow
3
6. value The Cooler Initiative
Milk. Eggs. Bread. These are the basics of every As a result of enthusiastic and immediate Customer
family’s pantry and are replenished more often than response expressed through increased traffic and
any other food items. They are the core of our sales, we accelerated our refrigerated cooler program
expanded food strategy. While many of our and installed coolers in about 1,000 of our stores in
Customers make larger stock-up trips to refill their 2005. While some of the sales increases are a direct
pantries, they also fit in more than 40 trips a year to result of sales of new cooler items, we have leveraged
pick up a gallon of milk or to buy more snacks for the additional traffic to increase sales in other
their children’s lunches. We have expanded our food departments, resulting in larger Customer purchases
assortment to provide Customers with more that include both perishable food and other items.
neighborhood convenience and value for these In 2006, we will install refrigerated coolers in
frequent fill-in trips. approximately 2,500 additional stores, and by the
Low and lower-middle income consumers spend a end of our fiscal year, we will have coolers in more
significant portion of their limited budgets on food. than half our chain. Ultimately, we expect to install
While Family Dollar doesn’t intend to be a full-service refrigerated coolers in almost all of our stores.
grocery store, we will satisfy the fill-in food trip needs Offering everyday food necessities will keep our
of our Customers by offering a variety of ready-to-eat Customers coming back to Family Dollar day in and
and quick preparation foods for breakfast, lunch, day out.
dinner and snack time. With limited budgets and
cabinet space, busy moms like Gloria, who need to
pick up milk and cereal for breakfast or bread and
sandwich meat for lunch, know they can count on us
for value and convenience.
4
7. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
“Family Dollar
always has
just what I
need. My
family and I
value both
the savings
and the
convenience.”
Gloria and Kyla,
Family Dollar Customers
5
8. value The Urban Initiative
Urban markets represent a significant opportunity teams drive our success in these markets, and we
to provide under-served consumers with value and have enhanced our training programs and leveraged
neighborhood convenience. Two-thirds of all technology to create a pipeline of qualified urban
consumer spending occurs in the largest 50 store management candidates in anticipation of
metropolitan markets, and inner city urban areas tend predicted personnel needs. We have improved store
to be the most under-served retail space. Yet, while presentation standards and customer service, and we
urban markets offer great opportunities, they also have implemented new loss prevention technology
present great operating challenges. Our stores in and procedures to address elevated inventory
urban markets serve more Customers and produce shrinkage in urban locations.
higher sales than stores in smaller towns, creating a To address the higher costs inherent in operating
greater velocity of products and people that is more in urban markets, we are implementing a price
difficult to manage. Available retail space is often optimization strategy that enables us to provide
older, smaller and has more restrictive delivery and Customers with competitive prices on their everyday
transportation conditions due to city ordinances and needs but also allows us to partially offset the impact
physical location. Higher crime, inventory shrinkage of operating in these more expensive markets.
risks and operating costs, including labor, rent and We are also improving our supply chain to address
other expenses, make it more challenging to operate the challenges of producing increased sales and
profitably in urban markets. Despite these obstacles, inventory turns within the limited space common in
we believe the opportunities in urban markets urban stores.
outweigh these challenges. In 2005, we implemented the Urban Initiative in
To address these challenges and drive higher 1,200 stores in major urban markets. While we have
financial returns, we have developed the Urban increased our investment in these stores, we have
Initiative. The Urban Initiative is designed to improve also increased the sales. The marginal contribution
the consistency of customer service and operations of the incremental sales is now offsetting the
and drive higher financial performance through incremental cost, but our goal is to create even more
investments in people, process changes and value for our Shareholders. In 2006, we plan to make
technology. To respond to the fast-changing dynamic adjustments to the existing program to drive
dynamics of the urban market, we created a mobile further performance improvement, producing
and flexible Store Operations organization focused on additional value for our Shareholders, our Customers
managing by market areas, rather than operating and our Associates.
each store individually. Talented, experienced store
6
9. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
“I am proud
to manage a
store where we
bring value to
Customers in
my community.”
Trina and Wanda,
Family Dollar Associates
7
10. value The Treasure Hunt Initiative
Our Customers tell us that they need the household strategies. Advertising circulars help us tell our
items that we consistently provide at our great, Customers about the great everyday values in both
everyday low prices. But they also tell us how much Treasure Hunt and basic consumable merchandise.
they love finding unexpected “treasures” that add We began offering our Treasure Hunt merchandise
excitement and “WOW!” to their shopping trips. program to our Customers during the 2004 holiday
While we continue to provide more value for our season. Our Customers responded favorably, and our
Customers by adding brand name, basic consumable holiday sales were better than the economic
merchandise to our assortment, we also are conditions would have predicted. This year, we will
increasing our selection of exciting Treasure Hunt build upon last year’s successful holiday season by
merchandise. Through opportunistic purchases and providing additional Treasure Hunt values to keep the
global sourcing, our merchants are creating a steady Family Dollar shopping experience surprising, fresh
stream of unique and compelling values for and compelling.
Customers. Fun Treasure Hunt merchandise is offered Our refrigerated cooler program and Urban
in almost every department so that a tired mom can Initiative drive more traffic into our stores as
put a smile on her child’s face with a new toy or her Customers seek great values on basic consumable
own with a trendy knickknack to add some spark to merchandise, which generally has low profit margins.
her living room. As you can see on the next page, We intend to leverage these Customer trips by
even our littlest Customers are delighted by our offering exciting, unexpected “treasures” with higher
merchandise, and Brock’s mom is pleased by the profit margins, in addition to our excellent values
great value she gets for her dollar. offered on everyday consumables.
Treasure Hunt merchandise affords us an additional While the focus of our Treasure Hunt items thus far
opportunity to improve our in-store presentation and has been fashion accessories, giftware and seasonal
merchandise profitability. Our store Associates are merchandise, we intend to expand our Treasure Hunt
excited to offer their Customers an ever-changing assortment into other categories to increase the total
selection of seasonal and stylish merchandise at great value proposition that we offer to our Customers.
values, and our logistical specialists are improving
their ability to get the right quantities to the right
stores at the right time so we can maximize sales and
minimize markdowns. Everyday low pricing continues
to be the foundation of our merchandise and pricing
8
11. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
”My son thinks your toys are
the coolest. I just think they’re
an amazing value.”
Heather and Brock, Family Dollar Customers
9
12. value The New Store Initiative
Our small stores provide value and neighborhood New stores not only increase our sales as we
convenience to low and lower-middle income serve new Customers, but also create valuable devel-
consumers, one of the fastest growing population opment opportunities for Family Dollar Associates.
segments in the U.S. During the last five years, the In fact, in 2005 many of our new store managers were
number of households with annual income below promoted from within our organization. At right, Patty,
$25,000 has increased more than ten percent, and a dedicated Family Dollar Store Manager, arranges a
the number of families with income below the poverty festive holiday presentation to build excitement for
level has grown almost eight percent. To address her Customers during Grand Opening Day at the new
this under-served population, we have aggressively store she will manage.
opened new stores to provide more value and In 2005, we opened 500 new stores. However,
convenience to this growing customer base. with a large number of those new stores opened in
To maximize the return on our investment, we the last two months of the fiscal year, we created
don’t place new Family Dollar stores in the first empty unnecessary cost and operational inefficiencies. To
lot we see or in any retail strip center with available create more value for our Shareholders, we will slow
space. Sophisticated evaluation processes and our new store growth to about 400 stores in 2006
technology ensure that new Family Dollar stores are and build processes that support a more balanced
advantageously located in the neighborhoods of our schedule of store openings. Creating a more steady
Customers, providing convenient shopping for their flow of new store openings will enable us to more
everyday needs. Advanced modeling techniques help efficiently accelerate our growth in the future,
us predict which neighborhoods will provide us with creating greater value for our Shareholders, our
the best opportunity for sales and profitability. We Customers and our Associates.
consider many variables in deciding where to locate a
store, including customer demographics and site
attributes such as traffic patterns, visibility and
accessibility, as well as the overall projected financial
return compared to the cost of the investment.
10
13. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
“Opening
new stores
is just one
way we
serve our
expanding
Customer
base and
bring value
to our
Shareholders.”
Patty, Family Dollar Store Manager
11
14. value Our Associates
Family Dollar’s Associates are our greatest One of our top priorities is to provide our Associates
competitive advantage and our most valuable asset. with a compelling place to work. To achieve this
We employ more than 42,000 hard-working and objective, we have invested in building career paths for
talented Associates in our stores, distribution centers each position to create development choices for those
and corporate offices. But at Family Dollar, we’re not Associates who wish to grow in their careers with the
satisfied with creating and providing jobs; we’re Company. Here at Family Dollar, we prefer to promote
committed to building careers. The Company’s talented Associates from within. To support these
financial stability and growth opportunities attract top efforts, we offer focused training and professional
candidates to the Company; training, defined career development programs that allow Associates to
paths and significant potential for advancement progress up the Family Dollar career ladder.
keep them here. To attract and retain talented Associates, we
Our success begins with recruiting. In 2005, we must offer equitable and competitive compensation.
created a significant number of new jobs to support During the last several years, we have partnered with
our growth. We opened 500 new stores, creating a leading compensation consultant to review and
more than 3,000 jobs primarily in the neighborhoods improve our compensation programs. In 2006, we
where our Customers live. We opened our eighth have asked our Shareholders to approve equity-based
distribution center in Marianna, Florida, creating more compensation programs that are based on pay for
than 400 new positions, such as the one filled by performance principles. These new compensation
Brian in the shipping department. In 2006, with the programs will better support our efforts to recruit and
opening of our ninth distribution center in Rome, retain talented Associates who will help us realize
New York, we will create additional career Family Dollar’s growth opportunity.
opportunities. To support our aggressive growth Our dedicated training programs, career growth
agenda, we have developed end-to-end technology and advancement opportunities and equitable
applications that have improved our recruiting, compensation programs will help us hire and retain
screening and selection processes. talented Family Dollar Associates and will drive higher
returns for Shareholders.
12
15. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
”The opportunities that Family Dollar offers let
me know they value me as an Associate.”
Brian, Family Dollar Distribution Center Associate
13
16. value Family Dollar Stores, Inc.
Family Dollar Stores, Inc. and Subsidiaries
Financial Highlights
As of August 27, 2005
Years Ended (In thousands, except per share amounts and store data) August 27, 2005 August 28, 2004
Net sales $ 5,824,808 $ 5,281,888
Cost of sales 3,908,569 3,496,278
Gross margin 1,916,239 1,785,610
Selling, general and administrative expenses 1,573,444 1,378,948
Income before income taxes 342,795 406,662
Income taxes 125,286 148,758
Net income $ 217,509 $ 257,904
Net income per common share – basic $ 1.30 $ 1.51
Net income per common share – diluted $ 1.30 $ 1.50
Dividends declared $ 61,538 $ 56,077
Dividends declared per common share $ 0.37 $ 0.33
Total assets $ 2,409,501 $ 2,224,361
Working capital $ 460,157 $ 489,727
Shareholders’ equity $ 1,428,066 $ 1,337,082
Comparable store sales gain 2.3% 1.9%
Stores opened 500 500
Stores closed (68) (61)
Number of stores – end of year 5,898 5,466
Net Sales Net Income Net Income Per Shareholders’ Equity
Diluted Common Share
(millions of dollars) (millions of dollars) (millions of dollars)
(dollars)
3,665
4,163
4,750
5,282
5,825
1,141
1,292
1,337
1,428
1.08
1.22
1.40
1.50
1.30
186
213
243
258
218
949
’01 ’02 ’03 ’04 ’05 ’01 ’02 ’03 ’04 ’05 ’01 ’02 ’03 ’04 ’05 ’01 ’02 ’03 ’04 ’05
14
17. FAMILY DOLLAR STORES, INC. ANNUAL REPORT 2005
Stores and Distribution Centers
As of August 27, 2005
Maquoketa
Rome*
Distribution
Distribution
Center
Center
39
Morehead
6
Distribution
9
Center 20
63
87
21 133 257 20
7 306 50
9
227 61
36
26
19 85
22
172 5
200 Front Royal
52
110 Distribution
82 203
Center
34 89
178
309
192
112
174
120 98 Matthews
86
Corporate Offices
289 and Distribution
143
109
Center
739 211
318
Odessa
Distribution
Marianna
Center West Memphis
Distribution
Distribution
Duncan Center
Center
Distribution
Center
Distribution Service Areas* Number of Stores
as of fiscal year end
Marianna, Florida Duncan, Oklahoma
907,000 Square Feet 907,000 Square Feet
Opened 2005 Opened 1999
Odessa, Texas Front Royal, Virginia
907,000 Square Feet 907,000 Square Feet
Opened 2003 Opened 1998
Maquoketa, Iowa West Memphis, Arkansas
907,000 Square Feet 850,000 Square Feet
Opened 2002 Opened 1994
2,581
2,767
3,017
3,324
3,689
4,141
4,616
5,027
5,466
5,898
Morehead, Kentucky Matthews, North Carolina
907,000 Square Feet 890,000 Square Feet
Opened 2000 Opened 1974
’96 ’97 ’98 ’99 ’00 ’01 ’02 ’03 ’04 ’05
* Opening in 2006: Rome, New York Distribution Center, 907,000 Square Feet
15
18. value Corporate and Shareholder Information
Directors
Mark R. Bernstein 2, 3* Edward C. Dolby 1 Howard R. Levine James G. Martin 1, 2*, 3
Retired Partner (Of Counsel), President, The Edward C. Dolby Chairman of the Board and Corporate Vice President,
Parker, Poe, Adams and Bernstein Strategic Consulting Group, LLC Chief Executive Officer, Carolinas HealthCare System
L.L.P. Attorneys at Law; Family Dollar Stores, Inc.
Glenn A. Eisenberg 1* 1. Audit Committee
Lead Director Executive Vice President, George R. Mahoney, Jr. 2. Compensation Committee
Sharon Allred Decker Finance and Administration, Retired, Former Executive Vice
2, 3
3. Nominating/Corporate Governance
Committee
Chief Executive Officer, The Timken Company President, Family Dollar Stores, Inc.
* Committee Chairperson
The Tapestry Group, LLC
Officers
Howard R. Levine Janet G. Kelley Mark S. Chidester Dennis C. Merriam
Chairman of the Board and Senior Vice President — Vice President — Human Vice President —
Chief Executive Officer General Counsel and Secretary Resources, Store Operations Human Resources, Distribution
and Employee Relations
R. James Kelly John J. Scanlon Ramesh Chikkala
Vice Chairman, Senior Vice President — Vice President — Store Process Jacob J. Modla
Chief Financial Officer and Hardlines and Marketing Improvement Assistant General Counsel —
Chief Administrative Officer Litigation
C. Martin Sowers Charles D. Curry
Robert A. George Senior Vice President — Finance Vice President — Real Estate, John R. Moffitt
Executive Vice President — Store Planning and Development Vice President — Allocation
Barry W. Sullivan
Chief Merchandising Officer and Replenishment
Senior Vice President — Allen W. Fields
Charles S. Gibson, Jr. Store Operations Vice President — Store Operations Stephen F. Phillips
Executive Vice President — Vice President — Store Operations
Elizabeth M. Austin Eric C. Gordon
Supply Chain Vice President — Information Vice President — Richard P. Siliakus
Dorlisa K. Flur Technology Operations Business Applications Vice President — General
Senior Vice President — Merchandise Manager, Hardlines
Samuel J. Bernstein R. Dodd Haynes
Strategy and Business Vice President — Marketing Vice President — Internal Audit Kenneth T. Smith
Development Vice President — Finance
Earl C. Bonnecaze Dennis A. Heskett
Keith M. Gehl Vice President — Store Operations Vice President — Store Operations Jerome G. Vickers
Senior Vice President — Vice President — Store Operations
James R. Bowen Billy W. Jones, Jr.
Construction and Facilities
Vice President — Distribution Vice President — Distribution Michael J. Zuege
Management
Vice President — Loss Prevention
James W. Burns Timothy A. Matz
Joshua R. Jewett
Vice President — Transportation Vice President — General Daylon W. Powell
Senior Vice President —
Merchandise Manager, Hardlines Assistant Treasurer
Bryan P. Causey
Chief Information Officer
Vice President — Planning and Janice B. Burris
Merchandise Control Assistant Secretary
Shareholder Information
Annual Meeting Form 10-K and SEC and NYSE Certifications
The Annual Meeting of Shareholders will be held at 2:00 p.m. A copy of the Form 10-K filed by the Company with the Securities and
at the Company’s Corporate Headquarters at 10401 Monroe Road, Exchange Commission (the “SEC”) for fiscal 2005, which includes as
Matthews, North Carolina, on Thursday, January 19, 2006. Exhibits the Chief Executive Officer and Chief Financial Officer
Certifications required to be filed with the SEC pursuant to Section 302
Independent Registered Public Accounting Firm
of the Sarbanes-Oxley Act, may be obtained by shareholders without
PricewaterhouseCoopers LLP
charge upon written request to Janice B. Burris, Assistant Secretary, at
Charlotte, North Carolina 28202
the Corporate Headquarters. The Form 10-K is also available on Family
Transfer Agent and Registrar Dollar’s website at www.familydollar.com. The Company has filed with
Mellon Investor Services LLC the New York Stock Exchange (the “NYSE”) the Certification of its Chief
480 Washington Boulevard Executive Officer confirming that the Company has complied with the
Jersey City, New Jersey 07310 NYSE corporate governance listing standards.
1-800-676-0868; 1-800-231-5469 (for hearing impaired);
1-201-329-8660 (for foreign shareholders)
www.melloninvestor.com
16
19.
20. value
FAMILY DOLLAR STORES, INC. Post Office Box 1017 Charlotte, North Carolina 28201-1017 www.familydollar.com
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