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07/01/2015

Family Dollar sees 0.7% lift in Q3 comps


MATTHEWS, N.C. — Family Dollar Stores reported on Wednesday a slight lift in third quarter sales and net income of $79.9 million.



Total net sales during the quarter increased 2.6% to $2.73 billion from $2.66 billion in the third quarter of fiscal 2014. Comparable store sales for the 13-week period increased 0.7% as a result of an increase in the number of customer transactions, which was partially offset by a decrease in the average customer transaction value, the company stated.



During the quarter, net income totaled $79.9 million compared with $81.1 million in the year-ago period. On a per-share basis, net income was 70 cents compared with 71 cents in the year-ago period. Excluding $4.7 million of expenses in the third quarter of fiscal 2015 related to the pending merger with Dollar Tree, and $24.5 million in restructuring charges in the third quarter of fiscal 2014, adjusted net income per diluted share was $74 cents compared with 85 cents in the third quarter of fiscal 2014.



 


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