Family Dollar Stores, Inc. (NYSE: FDO)
FDO (“Family Dollar”) previously reported that for the first quarter of fiscal 2013 ended November 24, 2012, net sales increased to $2.42 billion and net income per diluted share for the quarter increased to $0.69.
FDO (“Family Dollar”) net sales for the quarter increased 12.7% to $2.42 billion compared to $2.15 billion in the first quarter of fiscal 2012. FDO (“Family Dollar”) sales were strongest in the Consumables category, which increased 18.5% during the quarter, driven primarily by strong growth in tobacco, food and health and beauty aids. During the quarter, FDO (“Family Dollar”) opened 125 new stores, closed one store, and renovated, relocated or expanded 169 stores.
FDO (“Family Dollar”) comparable store sales for the quarter increased 6.6% as a result of increased customer traffic and an increase in the average customer transaction value.
FDO (“Family Dollar”) gross profit for the quarter increased 9.1% to $826.8 million, or 34.1% of net sales, compared to $757.6 million, or 35.3% of net sales, in the first quarter of fiscal 2012. As a percentage of sales, the impact of stronger sales of lower-margin consumables, higher markdowns and increased inventory shrinkage was partially offset by higher markups and lower freight expense.
For more than 50 years, Family Dollar Stores, Inc. (NYSE: FDO) has been providing value and convenience to customers in easy-to-shop neighborhood locations. Family Dollar’s mix of name brands and quality, private brand merchandise appeals to shoppers in more than 7,500 stores in rural and urban settings across 45 states. Helping families save on the items they need with everyday low prices creates a strong bond with customers, who often refer to their neighborhood store as “my Family Dollar.” Headquartered in Matthews, North Carolina, just outside of Charlotte, Family Dollar is a Fortune 300, publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO. For more information, please visit www.familydollar.com.
In my opinion this is a stock to watch!
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