Family Dollar Boosts Second-Quarter Net 10.7 Percent
March 28, 2012,
MATTHEWS, N.C.-Second-quarter net income for Family Dollar totaled $136.4 million, up 10.7 percent from the second quarter of last year.
The dollar-store retailer accomplished this growth primarily through an 8.6 percent rise in net sales, to $2.5 billion, which included a 4.5 percent gain in same-store sales. Howard Levine, Family Dollar's chairman and CEO, credited the company's investments to improve the shopping experience "and broaden our customer appeal." Levine said the same-store increase resulted from pickups in customer traffic and in the average customer transaction value.
Looking ahead, Levine said Family Dollar would accelerate its investments "to become more relevant to a broader customer base." This will include expanding its assortment in key businesses and introducing new categories. For this fiscal year as a whole, Family Dollar has projected a net sales gain of from 9 to 10 percent, with an increase in same-store sales of from 5 to 6 percent.