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Wednesday, January 14, 1986-KINGS MOUNTAIN HERALD-Page 7C
People
Susan Biggers
On Dean’s List
Susan Biggers, daughter of
Mr. and Mrs. Billy L. Biggers
of Kings Mountain, has been
named to the Dean’s List for
the fall semester at Wake
Forest University in Winston-
Salem.
‘To be named to the list, a
student must have a
semester grade of at least 3.0
out of a possible 4.0.
At Wake Forest, Miss Big-
gers is double majoring in
history and politics. She is
also active as a majorette in
the Marching Deacon Band,
and serves as a student
academic advisor.
Mrs. Weir Gives
Program At Club
Mrs. Sue Moss and Mrs.
Ruth Peeler were co-
hostesses to the Town and
Country Garden Club Thurs-
day night at the home of Mrs.
Moss.
An interesting program
was given on ‘‘Hazardous
Waste and Toxic Waste
Sites” by Mrs. Josephine E.
Weir. Mrs. Weir brought to
the club’s attention, not only
the industrial hazardous
waste, but also the household
supplies that are used every-
day. She gave members the
alternatives they could use
and told them how they
should dispose of the harmful
ones if they don’t use all of
them.
Refreshments were served.
Mrs. Currence
Speaks To DAR
Mrs. Lucy Currence of
Rock Hill, S.C. was guest
speaker for Wednesday's
meeting of the Colonel
Frederick Hambright
Chapter of the DAR at the
Conference Room of First
Federal SAvings and Loan
Association on Mountain
Street.
She used the topic ‘Early
Public Education” and noted
that the major reason first
settlers of the country were
concerned with public educa-
tion was so their children
could learn to read the Bible.
Vera Hardin was hostess to
the group and served
refreshments upon the
group’s arrival.
Mrs. Hilda Goforth,
Regent, conducted the
meeting.
PROMOTE
Marine Lance Cpl. Steve V.
Patrick, son of Charlie and
Thamle Patrick of 1315
Grover Road, Kings Moun-
tain, has been promoted to
his present rank while serv-
ing with 2nd Marine Division,
Camp Lejeune.
Family Dollar
Has Record Sales
Family Dollar Stores, Inc.
discount store chain
operating 1,163 stores in a
twenty-three state area rang-
ing as far north as Michigan,
east to New Jersey, south to
Florida and west to Texas, to-
day reported that sales in the
first quarter had reached
record high levels, but that
. earnings for the quarter had
“decreased. ‘For the first
quarter ended November 30,
1986, sales were $126,290,093
or approximately 15.7%
above sales of $109,119,025 for
the first quarter of the prior
fiscal yeaR. Net income was
$5,658,575 or approximately
9.0% below net income of
$6,216,765 for the comparable
quarter last year, and earn-
ings per share decreased to
$.20 from $.22. Net income for
the first quarter ended
November 30, 1986, was
reduced by approximately
$300,000, or $.01 per share,
representing the amount of
investment tax credit used to
reduce income tax expense
for the year ended August 31,
1986, which is no longer
available as a result of the re-
cent retroactive repeal of the
investment tax credit by the
Tax Reform Act of 1986.
The Uompatly also an-
nounced that sales in
December 1986 established
a new one month sales record
for Family Dollar. In that
month, sales increased to ap-
proximately $83,400,000 or
9.4% above the then record
one month sales of $76,243,546
in December 1985.
Leon Levine, Chairman of
the Company, attributed the
record sales results for the
first quarter ended
November 30, 1986, and for
December 1986, to sales
recorded in new stores open-
ed in the Company’s store ex-
ansion program. At the
eginning of the current
fiscal year, the Company was
operating 1,107 stores, com-
pared to 920 stores in opera-
tion at the beginning of the
rior fiscal year. During the
First quarter ended
November 30, 1986, and in
December 1986, 43 and 13 new
stores were opened, respec-
tively, compared to 66 and 25
new stores opened in the first
quarter ended November 30,
1985, and in December 1985,
respectively. Sales in ex-
isting stores decreased ap-
proximately one-half of one
percent in the first quarter
ended November 30, 1986, and
approximately 4.5% in
December 1986.
The total sales increases
for the first quarter ended
November 30, 1986, and for
December 1986, were not as
great as in prior years due to
a decline in sales in existing
stores and to a lesser number
of new store openings during
the recent periods. With
respect to new store open-
ings, the Company still ex-
pects to open approximately
190 stores in fiscal 1987, in-
cluding the 56 stores opened
in the first four months of this
fiscal year, to bring the
number of stores in operation
by August 31, 1987, to approx-
imately 1,300. The schedule of
openings will be distributed
more evenly throughout the
current fiscal year than in
prior years when a higher
percentage of new store open-
ings occurred earlier in the
fiscal year before Christmas.
The decrease in existing
store sales in recent periods
reflects the continuing im-
pact in fiscal 1987 of the
economic and competitive
factors that contributed to a
difficult retail sales environ-
ment in fiscal 1986. These fac-
tors include an economy
marked by sluggish con-
sumer spending in an in-
creasingly competitive retail
sales environment. While
total sales did increase in the
first quarter ended
November 30, 1986, and in
December 1986, due to sales
in new stores,
operating expenses in ex-
isting stores and expenses
relating to the new store
opening program make it dif-
ficult to increase earnings
without increases in existing
store sales.
As part of the effort to
generate existing store sales
gains, the Company has been
testing in a limited number of
stores a new interior store
layout and merchandise
presentation that places in-
creased emphasis on apparel
and other softline depart-
ments. This new format
presents a more prominent
and attractive display of
softline merchandise without
changing the merchandise
mix. The Company will ex-
pand this test by converting
additional stores this month,
and if the sales results are
positive all stores could be
converted by the end of the
current fiscal year.
Family Dollar now
operates 1,163 discount stores
located in Alabama, Arkan-
sas, Delaware, Florida,
Georgia, Illinois, Indiana,
Kentucky, Louisiana,
Maryland, Michigan,
Mississippi, Missouri, New
Jersey, North Carolina, Ohio,
Oklahoma, Pennsylvania,
South Carolina, Tennessee,
Texas, Virginia and West
Virginia.
JENNIFER AND
JUSTIN GIBSON
Jennifer, Justin
Celebrate Birthdays
Jennifer and Justin Gibson,
Children of Ray and Darlene
Gibson of Gronbury, Texas,
celebrated birthdays on Jan.
2. Jennifer was 9 and Justin
was one year old on Oct. 21.
They are the grandchildren
MEMBER
hmm som.
Cow Nom age 1nperes tu 100 200 00
of Mrs. Faye Stewart of
Kings Mountian and Earl and
Dorothy Gibson of Monroe.
They are the great-
grandchildren of Mr. and
Mrs. Bill foster of Kings
Mountain. Their mother is
the former Darlene Butler of
Kings Mountain.
Bridges
Promoted
Rodney D. Bridges, son of
Bobby K. and Elsie M.
Bridges of Grover, has been
promoted in the U.S. Army to
the rank of specialist four.
Bridges is a utilities equip-
ment repairer in West Ger-
many, with the 38th Signal
Battalion.
He is a 1984 graduate of
Kings Mountain High School.
KM Students
On ASU List
Five Kings Mountain area
students were listed on the
Dean’s List for the recent
FIRST FEDERAL
SAVINGS & LOAN ASSOCIATION
They are Amy Elizabeth
Robinson, Leslie Elaine
Sellers, Patricia Lynn
McGinnis, Jayne Marie
Lybrand, all of Kings Moun-
tain, and Eliabeth Annette
Harry of Grover. :
semester at Appalachian
University in Boone.
Full-time students with a
grade point average oif 3.25,
or better on a sacle of 4.0,
qualify for the list.
10 Marvelous Days To The
HOLY LAND
You are invited to share with other friends from
Kings Mountain. The ‘‘experience of a
lifetime,” — a pilgrimage to the Holy Land.
Departure February 23, 1987
Visit the land where Jesus lived - The Bible will
‘‘come alive’ to you as never before. Give this
most prized of all gifts to a loved one or friend
for Christmas.
First class travel and hotels. Experienced host.
Fly KLM airlines.
LOWEST PRICES IN YEARS!
For Brochure And Information
Call Eugene Land At
739-6028 or 739-4216
529 SOUTH NEW HOPE ROAD
PO BOX 4017
GASTONIA, NC 28054-4017
PHONE (704) 865-1111
300 WEST MOUNTAIN STREET
PO BOX 746
KINGS MOUNTAIN, NC 28086
PHONE (704) 739-4781
increased -
Se
Costs
It
nd It Means So Much.
Southern Bell Long Distance
Southern Bell
A BELLSOUTH Company
ALREADY INTOUCH WITH THE FUTURE? eo
So Little
Southern Bell Long Distance is a great
way to stay in touch with friends and
family at reasonable rates.
A 10-MINUTE CALL FROM KINGS MOUNTAIN TO:
Cherryville $1.10
Boone $2.67
Charlotte $1.49
Rutherfordton $1.99
Call on weekends or after 11 p.m. and save even more.
Rates listed above are in effect 5-11 p.m., Sunday-Friday.
% RE 3
Dial Station (1+) char
es apply. These charges do not apply to person
-to-person, coin, hotel guest, calling card, collect calls, calls charged to another number, or to time and
: charge calls. Rates en to change. Daytime rates are higher. Rates do not reflect applicable federal, state and local taxes. Applies to intra-LATA long distance calls only.