Family Dollar Profit Matches Forecasts, Guidance in Line

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%.