MATTHEWS, N.C. — Increased store traffic and demand for low-priced basics helped sales at Family Dollar Stores here improve by 2.6% to $1.8 billion in the fiscal fourth quarter ended Aug. 29.
Comparable-store sales increased by 1%, despite the anniversary of stimulus checks that boosted sales figures by 5.6% in the same period last year, officials said. Family Dollar also boosted quarterly net earnings by 13.2% to $60.1 million, primarily driven by lower freight expenses, reduced shrinkage and higher markups, which offset the effect of a mix shift toward lower-margin consumables including food. Sales of consumables at Family Dollar increased 6.7% from the same period last year and 12% for the fiscal year.
For the fiscal year, Family Dollar reported net income of $291.3 million, a 25% increase, on sales of $7.4 billion. Sales were up 6% for the year and comps improved by 4%.
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