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Family Dollar rings up profitable 3Q

Retail Editor 5, Thomas Russell -- Home Textiles Today, June 29, 2011

Matthews, N.C. - The home department was a strong performer at Family Dollar during the company's recently completed third quarter.

Sales in the home department rose 8.2% during the quarter ended May 28, exceeded only by the consumables segment, where sales rose 10.6%.

Promotional activity drove home sales, executives said during the company's quarterly conference call this morning.

All in all, the quarter came in softer than expected, and Family Dollar's 91 cents earnings per share - while up 18.2% - fell a penny below guidance.

Net income was $111 million on sales of $2.15 billion. Sales were up 7.8%, with comps up 4.7% owing to better traffic and higher ticket.