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Family Dollar Case

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Family Dollar Case Study
The company that has been chosen for this case study is Family Dollar Stores, Inc. This company was founded by Leon Levine in 1959 and went public in 1970 with under 300 stores in 1977. Its first store was opened in Charlotte, North Carolina, and offered its customers good valued merchandise for under $2. The concept for this new store was, “The customers are the boss, and you need to keep them happy.” When the founder, Leon Levine, retired in 2003, there were nearly 5,000 stores and sales approaching $5 billion. His son, Howard Levine took his father’s place as CEO and he became chairman and CEO. Today the company operates more than 6,600 stores in 44 states plus the District of Columbia. Family Dollar Stores is ranked 359 on the Fortune 500. They employee 44,000 people, about 25,000 are full time and the rest are part-timers. Family Dollar’s revenues of $6.984 billion in FY2008, showed an increase of 2.2 percent over the previous year.
The company continues to look for good locations and contractors to build and maintain the stores. The company continues to provide quarterly cash dividends to its shareholders since it began distributing dividends in May 1998. The company is divided into four broad product categories:
• Consumables
• Home Products
• Apparel and Accessories
• Seasonal and Electronic

Family Dollars vision and mission statement are as follows:
• Vision – To be the best small-format convenience and value retailer serving the needs of families in our neighborhoods.
• Family Dollar’s mission states the three most important relationships critical to making our business successful: our customers, our associates, and our investors. For our customers, we offer a compelling place to shop by providing convenience and low prices; For our associates, we offer a compelling place to work by providing exceptional opportunities and rewards for achievement; For our investors, we offer a compelling place to invest by providing outstanding returns.
In reviewing the information on Family Dollar, the following is a recommendation for a new vision and mission statement:

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