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History. Family Dollar was founded in 1959 by Leon Levine, a 21-year-old entrepreneur. [10] . In November of that year, the company's first store was opened, in Charlotte, North Carolina. [11] . In 1961, their first store in South Carolina opened, followed by stores in Georgia and Virginia, which were opened in 1962 and 1965, respectively.
Feb 24, 2024 · Family Dollar went public in 1970 and in 1971, the chain opened its 100th store. By 1979, the chain had undergone another rapid expansion and was trading on the New York Stock Exchange with annual sales of over $100 million.
- Building His Empire
- Simple and Clean Works
- The Philanthropist
Leon was born in Rockinghamin 1937. His father, Harry, ran The Hub, a five-and-dime department store next to R.W. Goodman down on South Lee Street. They sold clothing and shoes. It wasn’t flashy. But the place was clean, and the shirts were straight and neat. When Leon was 12, his father died, leaving his mother to run the store. At 14, Leon starte...
Some stores exist on some sort of nostalgia or atmosphere. Boutiques do this. Stores at the mall do this. Some places have a certain smell. The clothes are laid out in an ornate manner, or their walls are covered with posters or paint. The music is turned up loud. In those places, you’re not just paying for the stuff you bought. You’re paying for t...
Howard Levine, the son, is the man in charge of the company now, and that’s left Leon to do something with the money he’s spent a lifetime accumulating. He’s giving it away. The Leon Levine Foundation, which he founded in 1980, has given away more than $75 million. He’s funded a cancer center and children’s hospital in Charlotte, a science center a...
Key Dates: 1959: Leon Levine opens the first Family Dollar store in Charlotte, North Carolina. 1970: The company goes public. 1979: The company acquires 40 Top Dollar stores. 1982: Family Dollar opens its 500th store. 1987: The company launches a new pricing policy: they will not be undersold. 1992: Sales surpass $1 billion.
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 New York Stock Exchange.
The 1980s were all about expansion as Family Dollar gained popularity as a major regional discount store chain. We opened our 500th store in 1982, and by 1989, we had over 1,500 Family Dollar stores in operation.
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Family Dollar was founded by Leon Levine in 1959 on Central Avenue. Learn the story behind one of the Queen City's most famous businesses.
