Retail stocks rise as Family Dollar profit, sales top views

Retail stocks inched up Wednesday after discounter Family Dollar Stores Inc. reported a better-than-expected fiscal first-quarter profit and gave a second-quarter outlook that also topped analysts' estimates.

The Matthews, North Carolina-based company saw its shares surging 11% to $30.48 after it also said December same-store sales rose 4%, exceeding the 2.4% average expected by analysts in a Retail Metrics survey.

Family Dollar /quotes/comstock/13*!fdo/quotes/nls/fdo (FDO 30.87, +3.38, +12.30%) , like other discounters, has outperformed most other segments of the industry in the economic downturn as consumers still concerned about job losses and the pace of economic recovery traded down or sought bargains at retailers that they think offered them attractive prices, analysts said.

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- Posted: 2010-01-06 10:42:18

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