Family Dollar projects modest 2008 

Matthews, N.C. – Neighborhood discounter Family Dollar Stores projected flat year-to-year earnings results for the year ahead, as it reported net earnings up 2.8% to $0.37 per diluted share for the first quarter (ended Dec. 1, 2007) of fiscal 2008 – but net income was down 4.1% to $51.9 million; the discrepancy reflects stock buybacks that have reduced the number of share outstanding.

Sales rose 5.2% to $1.68 billion in the quarter; comps fell 1.0%.

“While categories meeting every day consumable needs continued to perform well, our customers were more restrained with their discretionary spending this quarter,” said chairman and ceo Howard Levine.

Family Dollar expects sales to rise 2% to 3% in fiscal 2008 (ending Aug. 30, 2008) and projects flat to slightly higher comp store sales. Earnings per diluted share are planned between $1.56 and $1.64. For fiscal 2007, net income came in at $1.62 per diluted share.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!