Family Dollar Announces Earnings

Family Dollar Stores (FDO) announced that net income dropped to $80.3 million, or 69 cents per share, for the last fiscal quarter. A year ago, the company earned $80.4 million. Analysts had expected earnings of 74 cents per share, while the company had called for 69 cents to 78 cents per share. Net sales increased 12.7 percent to $2.41 billion, up from $2.15 billion in the same period last year. Same store sales increased by 6.6 percent.