Family Dollar Profit Matches Forecasts, Guidance in Line

Thursday, 29 Mar 2007 | 7:21 AM ET

Discount retailer Family Dollar Stores reported quarterly earnings that met analysts expectations Thursday and also issued guidance in line with market forecasts.

Family Dollar said it earned $90.5 million, or 60 cents a share, for its fiscal second quarter, which ended in January, up from $54.5 million, or 35 cents a share, in the same quarter a year ago. The profit was right in line with expectations of analysts polled by Thomson Financial.

The company previously reported that revenues rose 12.2% from the year-ago period to $1.95 billion, with sales at stores open at least a year up 0.4%.

Looking ahead, Family Dollar predicted fiscal 2007 earnings of $1.63 to $1.69 a share, in line with expectations for $1.65 a share. Fiscal third-quarter earnings are predicted to be between 39 cents and 43 cents a share, also in line with expectations for 41 cents a share.

March same-store sales are predicted to rise 3% to 5%, with fiscal third-quarter same-store sales rising 1% to 3%.

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