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Friday, July 1, 2011
Family Dollar sales, profit fall (Investor's Business Daily)
Investor's Business Daily - The discount chain said Q3 earnings per share rose 18% to 91 cents, missing estimates by 4 cents as wary consumers bought less. Sales rose 8% to $2.15 bil, below views. Family Dollar Stores , which caters to low-income shoppers, is also dealing with the rising cost of goods. It sees Q4 EPS of 62-70 cents, bracketing views for 65 cents. Earlier this month, rival Dollar General posted weaker-than-expected quarterly profit as it cut prices to clear store shelves. Family Dollar rose 0.8% to 53.44.
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