MATTHEWS, N.C. — Shoppers seeking values in a tough economy helped raise sales, earnings and market share for Family Dollar Stores, the discounter here said Wednesday.
The chain said net earnings during the fiscal first quarter, which ended Dec. 31, increased 14.1% to $59.3 million on sales of $1.8 billion. Sales improved by 4.2% as compared to the same period a year ago while profits as a percent of sales increased to 35% as the chain had fewer markdowns, higher mark-ups and reduced rates of shrink as store traffic increased. Sales were strongest in the consumables category, driven primarily by food, officials said in a conference call.
Read More of Today's Headlines