June 28 Family Dollar Stores Inc posted h igher q uarterly profit on Thursday, as lower-income shoppers visited its small stores for essentials such as milk and food.
The chain, which sells a variety of general merchandise, is pursuing growth both by opening more stores and adding more products to its shelves.
Family Dollar earned $124.5 million, or $1.06 per share, in the fiscal third quarter, compared with a profit of $111.1 million, or 91 cents per share, a year earlier.
Sales rose 9.6 percent to $2.36 billion, while sales at stores open at least a year were up 5 percent.
For the current quarter, Family Dollar is forecasting a profit of between 71 cents per share and 81 cents per share, with same-store sales rising between 5 percent and 7 percent.