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In November of that year, the firm's first store was opened, in Charlotte, North Carolina. In 1961, their very first store in South Carolina opened up, adhered to by stores in Georgia and Virginia, which were opened in 1962 and 1965, specifically.
In 1958, a 21-year-old business owner with a passion for merchandising became interested with the suggestion of running a low-overhead, self-service retail store. Leon Levine thought he could supply his consumers a selection of top-notch, good value merchandise for under $2. Because he had grown up in his family's store, he understood consumer, worth as well as high-quality fulfillment.
In November 1959, Levine opened up the initial Family Dollar store in Charlotte, North Carolina, as well as got on his method to coming to be a retailing legend. Right from the start, he had a strong ideology of what Family Dollar would be as well as just how it would certainly operate, an approach from which he and also his monitoring group have actually never ever wandered off. The idea is a straightforward one, "the consumers are in charge, and also you need to maintain them pleased."
Levine developed and also executed a basic floorplan that enabled customers to quickly discover their favored products in any Family Dollar store. With the stores consistently set out and equipped, store supervisors can concentrate on giving great customer support. This idea for a self-serve, cash-and-carry neighborhood discount store confirmed so successfully, that today, Family Dollar is a chain with greater than 8,000 stores from Maine to California and over 15,000 areas with the mixed total amount of Family Dollar as well as Dollar Tree stores.
The 1970s were expanding years for the store chain. In 1970, Family Dollar's supply went public for the very first time, at $14.50 per share. In 1971, the chain's 100th store opened, adhered to by their 200th in 1974 and also their 300th in 1978. Also in 1974, a distribution center was opened in Matthews, North Carolina. In 1979, Family Dollar stock started trading at the New York Stock Exchange.
In 1981, the chain's 400th store was opened, followed by the 500th store in 1982 as well as a 700th in 1983. The 1980s saw development at a wider range for the firm, and also by 1989, 1,500 stores were operating.
The 1990s saw the rate of expansion slow down compared to the 1980s, with 1,000 stores opened. The company opened warehouses in West Memphis, Arkansas; Front Royal, Virginia, and also Duncan, Oklahoma. Considering that 2000, the speed of growth raised substantially, with the addition of 3,500 brand-new stores, as well as brand-new warehouse opening up in Morehead, Kentucky; Maquoketa, Iowa; Odessa, Texas; Marianna, Florida; as well as Rome, New York.
In 2001, Family Dollar signed up with the S&P 500 stock market index. In 2002, the business signed up with the Fortune 500 list of biggest publicly had business.
When Leon Levine retired in 2003, his boy Howard R. Levine prospered him as Chairman as well as CEO, keeping this multibillion-dollar business in the family.
In March 2005, Family Dollar restated the firm's fiscal 2000 to fiscal 2004 profits per share downward by 2 cents to 3 cents a year, to deal with lease-accounting problems.
According to their website in 2005, Family Dollar opened 500 new stores, 350 even more in 2006, and also an additional 300 in 2007. According to the Company's 2013 Corporate Profile in 2010, Family Dollar opened up 200 new stores, 300 more in 2011, 475 in 2012, and also an additional 500 in 2013. On October 3, 2012, Family Dollar stated they will certainly open 500 stores in 2013.
In 1961, their first store in South Carolina opened, complied with by stores in Georgia and also Virginia, which were opened in 1962 and also 1965, respectively. In November 1959, Levine opened the initial Family Dollar store in Charlotte, North Carolina, and was on his means to becoming a selling legend. With the stores uniformly laid out as well as stock, store managers can concentrate on providing great client solutions. This idea for a self-serve, cash-and-carry community discount store verified so effectively, that today, Family Dollar is a chain with more than 8,000 stores from Maine to California, as well as over 15,000 areas with the combined total amount of Family Dollar close to you and also Dollar Tree stores.
According to the Company's 2013 Corporate Profile in 2010, Family Dollar opened 200 brand-new stores, 300 more in 2011, 475 in 2012, and also an added 500 in 2013. Click on the link to explore our homepage.