Family Dollar third-quarter profit, sales rise

June 28 Thu Jun 28, 2012 7:12am EDT

June 28 (Reuters) - 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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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