Family Dollar outlook tops Street, shares up
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Family Dollar outlook tops Street, shares upFamily Dollar outlook tops Street, shares upFamily Dollar, whose shares rose nearly 4 percent, said #xit had lured moreChristmas decorationsshoppers who spent more per transaction, sending sales at its stores open at least year up by 3.6 percent during the quarter.The discounter, which sells most of its merchandise for $10 and less and typically draws shoppers with household incomes of $40,000 or less, said momentum continued into March. Same-store sales rose 11 percent last month, helped by good weather and an early Easter.Family Dollar expects same-store sales to rise between 6 percent to 8 percent during the current quarter.Family Dollar reported net income of $112.2 million, or 81 cents a share, for the secondChristmas decorationsquarter ended February 27, up 33 percent from $84.1 million, or 60 cents per share, a year earlier.Analysts on average were expecting earnings of 78 cents a share, according to Thomson Reuters I/B/E/S.During the second quarter, Family Dollar's sales benefited from a new checkout system that accepts more types of payments, including food stamps and gift cards, a move the company said would continue to drive sales even as the economy improves."(The) last couple of years we've been at a structural disadvantage by not being able to accept food stamps in all our stores -- that disadvantage has been eliminated now,Energy saving lamps," Levine said on a conference call, adding that the economy's recovery was still fragile and that consumers still look for discounts.Family Dollar's strategy to accept more food stamps will help overall sales, an analyst said."The main positive effect is that food stamps draw foot traffic," said IBISWorld #xanalyst Toon Van Beeck. "You have theChristmas decorationsability to sell other items."相关的主题文章：
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