David Perry -- Furniture Today, June 8, 2009
Family Dollar Sees Momentum in 3Q
Family Dollar's third quarter sales rose 8.2% to $1.84 billion, the company announced last week.
Comp sales at the 6,654-unit chain increased 6.2%. Family Dollar opened 26 new stores opened during the quarter.
"Our sales momentum continued through the third quarter, with comparable store sales increasing more than 7% through the first twelve weeks of the quarter. As expected, the last week of the reporting period was adversely affected by a shift of the first-of-the month money flow and our corresponding advertising into the June period," said Howard Levine, chairman and ceo.
Strong consumables sales — up 13% — offset ongoing weakness in discretionary categories, although Levine said the latter showed signs of improvement.
Family Dollar said it now expects earnings per diluted share for the third quarter will be at or above the upper end of its previously provided guidance of 54 cents to 58 cents.
Walmart to Hire 22,000
Walmart U.S. last week said it will create more than 22,000 jobs this year as it staffs new or expanded stores in the country. The figure included store management and pharmacists as well as associates.
The company plans to open 142 to 157 new or expanded stores during the fiscal year.
Ikea pegs site in Winnipeg
Ikea Canada has obtained site approval for a 350,000-square-foot store in Winnipeg, Manitoba to open between late 2011 and early 2013.
The store, Ikea's first in the Winnipeg market, will be at Kenaston Boulevard and Sterling Lyon Parkway. Construction will begin once the retailer receives approval for needed infrastructure changes.
According to the Sweden-based home furnishings giant, construction will take about 18 months.
"We are happy to be able to move forward with our expansion into the Winnipeg market," said Kerri Molinaro, president of Ikea Canada. "We will look forward to serving the Winnipeg market and are confident that we will have a positive impact on the community through job creation and service contracts."
Headquartered in Burlington, Ontario, Ikea Canada currently operates 11 stores in the country.
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