Tightfisted Consumers Open Wallets At Family Dollar

Value chains like Family Dollar, Dollar General and 99 Cents Only Stores are seeing the benefits of offering low-cost products during tough economic times when recession weary consumers are cautious about dishing out cash.

North Carolina-based Family Dollar Stores ( FDO - news - people ) reported earnings of 77 cents per share for the three month period ended May 29, compared with 62 cents in the corresponding period a year ago and a penny ahead of the consensus analyst estimate. Net income for the quarter climbed 19% to $104.4 million, from $87.7 million in the year ago period. Third quarter sales fell to $2 billion, in line with estimates. Reductions in markdown expenses and lighter inventory padded the retailer's to gross profit margins, which expanded to 36.6% from 36.2%.

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- Posted: 2010-07-07 11:48:26

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