Family Dollar Q1 EPS misses

Investor's Business Daily

The specialty discount chain said EPS rose 1.5% to 69 cents, missing views by 6 cents. Sales grew 13% to $2.42 bil, above expectations for $2.38 bil. But Dec. same-store sales only rose 2.5% as consumers held off buying discretionary items. "The holiday season proved to be more challenging than we expected as customers faced increasing financial uncertainty," said CEO Howard Levine. Family Dollar (FDO) sees Q2 EPS of $1.18-$1.28, well below the $1.39 analysts had projected. Shares fell 13% to 55.74. Its dollar-store rivals fell modestly.

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