Discount retailer Family Dollar Stores, Inc. ( FDO ) on Wednesday said its fiscal fourth quarter profit rose 8% from last year, beating analyst expectations.
The Charlotte-based company reported fiscal fourth quarter net income of $79.8 million, or 66 cents per share, compared with $73.9 million, or 56 cents per share, in the year-ago period.
Sales rose 9% from last year to $2.13 billion.
On average, Wall Street analysts expected a smaller profit of 63 cents per share on matching revenue of $2.13 billion.
Looking ahead, the company forecast fiscal fist quarter earnings of 65 to 73 cents per share, while analysts are looking for 66 cents per share for the quarter.
Family Dollar shares fell 43 cents, or -0.8%, in premarket trading Wednesday.
The Bottom Line
Shares of Family Dollar Stores ( FDO ) have a 1.33% dividend yield, based on last night's closing stock price of $54.18. The stock has technical support in the $48 price area. The shares are trading near all-time high levels of $56 a share.
Family Dollar Stores, Inc. ( FDO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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