Family Dollar Third-Quarter Net Grows 19 Percent
July 7, 2010,
MATTHEWS, N.C.-Third-quarter net income for Family Dollar jumped 19 percent to $104.4 million, which pushed its earnings per share to 77 cents, a new record for the quarter.
The retailer accomplished this largely on an 8.4 percent gain in net sales, which finished the quarter at $2 billion and which included a same-store sales increase of 7 percent. Family Dollar's gross margin rose 37 basis points to 36.6 percent, thanks to reductions in markdown expenses and inventories. While selling, general and administrative expenses increased 6 percent, they fell as a percentage of sales by 61 basis points to 28.1 percent.
Other Articles By Author
HFN Launches Interactive Idea Book
HFN's DIGITAL EDITION
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