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
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