Family Dollar

Family Dollar is a United States store chain that has locations almost all over the country. As the store's name suggests, most of its products sell for US$1, although prices vary; some items could cost much more than that.

History

Family Dollar was founded in 1959 by Leon Levine, a young entrepeneur. In November of that year, the company's first store was opened, in Charlotte, North Carolina. In 1961, their first store in South Carolina opened, followed by stores in Georgia and Virginia, which were opened in 1962 and 1965, respectively. During the 1960s, the store company was largely a southern United States operation. By 1969, there were fifty stores in Charlotte alone.

The 1970s were growing years for the store chain. In 1970, Family Dollar's stock went public for the first time, at $14.50. In 1971, the chain's 100th store opened, followed by their 200th in 1974 and their 300th in 1978. Also in 1974, a distribution center was opened in Matthews, North Carolina. In 1979, Family Dollar stock began trading at the NYSE.

In 1981, the chain's 400th store was opened, followed by a 500th store in 1982 and a 700th in 1983. The 1980s saw expansion at a wider scale for the company, and, by 1989, 1,500 stores were operating.

The 1990s saw the expansion slow down a little when compared to the 1980s, with 1,000 stores opened. However, the company opened three distribution centers, one each in West Memphis, Arkansas, Fort Royal, Virginia and Duncan, Oklahoma.

In 2000, a distribution center was opened in Morehead, Kentucky. In 2001, Family Dollar joined the S&P 500 stock index. In 2002, the company joined the Fortune 500 list and opened a distribution center in Maquoketa, Iowa. 2003 saw distribution centers open in Odessa, Texas and Jacksonville, Florida.2005 saw distribution centers open in Marianna, Florida.