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Dollar Store Merchandise was Last modified: November 06, 2017;
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Family Dollar Stores Inc. reports a 3.4 percent increase in sales for the four weeks ended Sept. 1.

Revenue rose to $494.4 million from $478.3 million in the year-ago period.

Sales increases were strongest in food and seasonal categories, primarily toys and lawn and garden.

Sales at stores that have existed for at least a year increased 1 percent.

Better-than-expected expense trends and the estimated impact of a review of store lease accounts have caused the company to increase its earnings-per-share estimates.

Family Dollar (NYSE:FDO) expects fourth-quarter earnings per diluted share of 24 to 27 cents, up from 21 cents per diluted share in the fourth quarter of last year. The company had previously forecast a fourth-quarter profit of 19 cents to 22 cents per diluted share.

For the full fiscal year, which ended Sept. 1, the company expects earnings to range between $1.60 and $1.63 per diluted share, up from $1.26 per diluted share in the last fiscal year. The company previously forecast full-year net income of between $1.55 and $1.58 per diluted share.

Family Dollar will release its financial results for the fourth quarter and full year on Oct. 4.

As of Sept. 1, the Matthews-based discount-store chain operated 6,430 stores in 44 states.


 

 

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Last modified: November 06, 2017