Family Dollar posts lower profit
Family Dollar Stores Inc. [s FDO], in the process of being acquired by Dollar Tree Inc. , reported late Wednesday its fiscal third-quarter profit slipped to $79.9 million, or 70 cents a share, from $81.1 million, or 71 cents a share, a year ago. The results include $4.7 million in expenses tied to its pending merger. Revenue for the quarter ended May 30 rose 2.6% to $2.73 billion from $2.66 billion. Same-store sales for the period rose 0.7%. Analysts surveyed by FactSet had predicted the discount retailer would post earnings of 82 cents a share on $2.73 billion in sales. Shares were unchanged in after-hours trade. The stock is up 22% over the past 12 months.
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