Family Dollar January sales rise |
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Thu, 08 Feb 2007 15:46
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CHARLOTTE, N.C. (AFX) - Discount retailer Family Dollar Stores Inc. said Thursday its January same-store sales, or sales at stores open at least a year, rose 1.7 percent.Analysts polled by Thomson Financial expected a same-store sales increase of 2.1 percent.Fiscal January same-store sales, which had five weeks compared four weeks a year ago, rose a tenth of a percent, while total sales for that period rose 38.2 percent to $585.3 millionTotal sales for the month rose 5.7 percent to $447.6 million.For the fiscal year-to-date, same-store sales rose just under 1 percent while total sales rose 10.8 percent to $3.04 billion. The company's fiscal year ends Aug. 26.The company said it still plans on expanding its core food assortment in about 2,000 stores, initiating changes in February. The transition period could disrupt sales, Family Dollar said, and the company expects flat same-store sales in February.Second-quarter profit is still expected to range from 58 cents to 64 cents per share.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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