Family Dollar 3Q Earnings Jump 36%; Boosts FY View

Family Dollar Stores Inc.'s (FDO) fiscal third-quarter earnings jumped 36% on continued strong sales of basics and staples as the discount retailer boosted its fiscal-year outlook and projected current-quarter results above analysts' expectations.

The company now sees fiscal-year earnings of $2.03 to $2.07 a share, compared with April's view of $1.90 to $2. For the fourth quarter, Family Dollar expects earnings of 39 cents to 43 cents a share on a 4% to 6% increase in net sales. Analysts surveyed by Thomson Reuters expect earnings of 39 cents a share and a 4% increase in net sales to $1.83 billion.

Discounters have largely benefited in recent months from the economic downturn as shoppers turn to lower-cost outlets and Family Dollar has been steering its product mix more toward consumables, which see broad demand across all demographics.

Read Full Article from Wall Street Journal

- Posted: 2009-07-08 12:35:36

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