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Family Dollar Q4 profit up, boosts store expansion plans
MATTHEWS, N.C. — Family Dollar Stores announced Wednesday that it plans to open 450 to 500 new stores in fiscal 2012, a 50% jump compared with the number of openings in fiscal 2011, and will renovate, relocate or expand over 1,000 locations. The discounter also reported that its fiscal fourth-quarter net income rose 8%.
“In fiscal 2012, we intend to accelerate investments to drive sales and profitability,” said Howard Levine, chairman and CEO.
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Macy’s speeding up adoption of RFID technology
Cincinnati -- Macy’s is ramping up its adoption of RFID technology. The retailer announced that its Macy’s and Bloomingdale’s stores are adopting the technology on an accelerated timeline to more precisely manage item-level merchandise inventories. The company expects that by the third quarter of 2012, it will begin using RFID in all stores nationwide to count size-intensive replenishment goods, which accounts for about 30% of the company’s total sales.