Family Dollar Boosts Second-Quarter Net 9.8 Percent

MATTHEWS, N.C.-Rising sales and higher operating margins fueled a 9.8 percent increase in Family Dollar's second-quarter net income, to $123.2 million.

Net sales jumped 8.3 percent to $2.3 billion, including a 5.1 percent pickup in same-store sales. Gross margin in the quarter, which ended on Feb. 26, rose 23 basis points to 35.7 percent. Although selling, general and administrative expenses were up 8.5 percent in dollars, they gained just 5 basis points as a percentage of sales to 26.8 percent.

Howard Levine, Family Dollar's chairman and CEO, said the retailer is reaping the benefits of initiatives targeted at increasing its operational capabilities and improving the in-store shopping experience. "These investments have provided a solid foundation for the successful launch of our strategic plan to re-accelerate revenue growth, expand operating margins and optimize our capital structure," Levine said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money