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1960 | 1970 | 1980 | 1990 | 2000 and beyond
In 1958, a 21-year-old entrepreneur with an interest in merchandising became intrigued with the idea of operating a low-overhead, self-service retail store. Leon Levine believed he could offer his customers a variety of high-quality, good-value merchandise for under $2. Because he had grown up in his family's retail store, he understood value, quality and customer satisfaction.
In November 1959, Leon Levine opened the first Family Dollar store in Charlotte, North Carolina, and was on his way to becoming a retailing legend. Right from the start, he had a well-developed philosophy of what Family Dollar would be and how it would operate, a philosophy from which he and his management team have never strayed. The concept is a simple one, "The customers are the boss, and you need to keep them happy."
He created a general floorplan that he used in each of his stores that allowed customers to easily shop for their favorite products in any Family Dollar store. With the stores uniformly laid out and stocked, store managers were able to focus on providing good customer service. This concept for a self-serve, cash-and-carry neighborhood discount store in low to middle income neighborhoods proved so successful that today Family Dollar is a chain with over 6,600 stores from Maine to Arizona.
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The 1960s
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| Click to view the enlarged images of 1960 |
After the first store opens in November 1959 in Charlotte, the 1960's begin Family Dollar's expansion into Southern states.
1961 - First store opens in South Carolina.
1962 - First store opens in Georgia.
1965 - First store opens in Virginia.
1967 - 27 stores operating in four states with annual sales of more than $5 million.
1969 - 50th store opens in Charlotte.
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The 1970s
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1970 - Family Dollar goes public, offering common stock at $14.50/share (adjusted for stock splits each share is now equivalent to 162 shares.
1971 - 2 for 1 split of common stock.100th store opens.
1972 - Common stock begins trading on American Stock Exchange.2 for 1 split of common stock.
1974 - Distribution Center opens in Matthews, NC.200th store opens.
1976 - First quarterly cash dividend on common stock is declared.
1977 - Annual sales exceed $100 million.
1978 - 300th store opens.
1979 - Common stock begins trading on New York Stock Exchange.
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The 1980s
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The pace of store expansion accelerates and Family Dollar becomes a major regional discount store chain.
1981 - 400th store opens. 3 for 2 split of common stock.
1982 - 500th store opens. 3 for 2 split of common stock.
1983 - 700th store opens. 2 for 1 split of common stock.
1985 - 3 for 2 split of common stock.
1989 - 1500th store opens.
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The 1990s
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Family Dollar moves to everyday low pricing and builds a management team and infrastructure to support a national chain of neighborhood convenience discount stores.
1992 - Annual sales exceed $1 billion. 2 for 1 split of common stock.
1993 - 2000th store opens.
1994 - Distribution Center opens in West Memphis, AR.
1996 - 2500th store opens.
1997 - 3 for 2 split of common stock.
1998 - Distribution Center opens in Front Royal, VA. 2 for 1 split of common stock.
1999 - Distribution Center opens in Duncan, OK.
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2000 and Beyond!
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With a unique merchandising concept providing consumers with convenience and everyday low prices, Family Dollar is well positioned to move forward as one of the fastest growing retailers in the country.
2000 - Annual sales exceed $3 billion. Distribution Center opens in Morehead, KY.
2001 - Family Dollar is added to the S&P 500 Index.
2002 - Family Dollar joins the ranks of the Fortune 500. Distribution Center opens in Maquoketa, IA.
2003 - Distribution Center opens in Odessa, TX. Family Dollar opens 5000th store in Jacksonville, FL.
2004 - Cash dividend increases for the 28th consecutive year. Annual sales exceed $5 billion.
2005 - Distribution Center opens in Marianna, FL. Cash dividend increases for 29th consecutive year.
2006 - Cash dividend increases for 30th consecutive year.
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