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FAMILY DOLLAR SET TO OPEN 6TH PB LOCATION

By Amy Riggin/OF THE COMMERCIAL STAFF
Tuesday, July 14, 2009 11:59 PM CDT

A Family Dollar store — the sixth location in Pine Bluff — is set to open in the former USA Drug store in the Broadmoor Shopping Center in early August, a company spokesman confirmed Tuesday.

“I think that when you look at our current store count there, Pine Bluff is a very important market for us,” Josh Braverman said. “Certainly most folks that live there know the value and convenience that we provide.”

The new location, at 1607 E. Harding Ave., was vacated earlier this year when by USA Drug opened a new location at 1401 E. Harding. Braverman declined to disclose details of the property purchase.

He said the Broadmoor location is about 9,700 square feet, larger than the average 8,000-square-foot Family Dollar store. He said the Charlotte, N.C.-based company is “pretty opportunistic” when it comes to acquiring properties, often choosing to become a second tenant in a former pharmacy or grocery store rather than building from scratch.

The Family Dollar store will employ between five and seven people, possibly more due to its larger size.

“This one’s a bigger store so they could have a larger budget,” Braverman said.

Other stores are located at 417 N. University Drive, in Jefferson Square at 2801 S. Olive St., 5316 Dollarway Road, 1113 S. Blake St. and 3100 W. 28th Ave.

Family Dollar operates more than 6,600 stores in 44 states, with net income of $84 million and total assets of $2.77 billion.

Its parent company, Family Dollar Stores Inc., is publicly traded on the New York Stock Exchange under the symbol “FDO.” Shares closed up 55 cents to $30.67 Tuesday.

“We’re happy to be able to serve the people that need us in a very economically difficult environment,” Braverman said. “We’re excited about expanding there.”

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