Family Dollar profit shrinks as shoppers focus on essentials
July 10 (Reuters) - Family Dollar Stores Inc posted a smaller quarterly profit on Wednesday and said it expects customers to remain under financial pressure and hold back on purchases that are not absolutely necessary.
Family Dollar earned $120.9 million, or $1.05 per share, in the quarter ended June 1, down from $124.5 million, or $1.06 a share.
Sales rose 9 percent to $2.57 billion, while sales at stores open at least a year, or same-store sales, rose 2.9 percent. The discount chain expects same-store sales to rise 2 percent this quarter.
- Atheists face death in 13 countries, global discrimination: study
- Missouri executes man for killing good Samaritan motorist in 1994
- Focus turns to Thai military, anti-government protesters tell them to pick sides
- Google executives' planes saved millions in costs due to error - NASA
- Apple scores legal victory over Samsung in South Korea