Discount retailer, Family Dollar Stores Inc. said on Wednesday that it is bracing for a tough new fiscal year as shoppers are spending money only on essentials even as it handed better-than-expected fiscal fourth quarter profit, thanks to its costs cutting measures. However, sales in the latest period were weaker-than-expected and same-store-sales came in flat. Analysts had forecasted same-store-sales to grow by 2%. The Company said that both customer traffic and average money spent per transaction were also flat. For the current quarter, Family Dollar anticipates same-store-sales to show low-single digit percentage growth compared to 6.6% increase in the year-ago period.
Tag: FDO
Major Movers on July 10; NBR, PCYC, NUS, HELE, FDO
Shares of Nabors Industries Ltd. (NYSE: NBR) plunged about 5.50% by afternoon trade.Late on Tuesday, the drilling contractor said that fiscal second quarter operating earnings will miss analysts’ expectation, citing weak performance in its rig, completion and production services businesses.
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Family Dollar’s Q3 Earnings Beat Estimate (FDO)
Discount retailer, Family Dollar Stores Inc. (NYSE: FDO) said on Wednesday that its fiscal third-quarter net income slipped 3% as lower gross margin offset higher same-store-sales. However, adjusted earnings edged past expectation while revenue was in-line with Street’s estimate.
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Major Movers on January 3; FDO, RIG, MLNX, HRL, MASI, LXK
Shares of Family Dollar Stores Inc. (NYSE: FDO), a Matthews, North Carolina-based company operating a chain of over 7,400 general merchandise retail discount stores in 45 states, are sinking in trading today. At last check, FDO shares were trading 11.96% lower at $56.38 on above average volume of 11.88 million. The stock hit an intra-day low of $53.03 earlier today.
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Family Dollar Stores Posts Stronger Profits, Higher Same-Store Sales (FDO)
Discount retailing chain, Family Dollar Stores Inc. (NYSE: FDO) edged up in premarket hours on Wednesday after the company announced 1.4% increase in its fiscal fourth-quarter profits thanks to 10.8% jump in sales of food and other basic commodities in the wake of higher same-store sales even as margins continued to face the pressure.
Continue reading Family Dollar Stores Posts Stronger Profits, Higher Same-Store Sales (FDO)