Family Dollar Boosts Second-Quarter Net 9.8 Percent
March 30, 2011,
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.