Family Dollar Stores, Inc. (NYSE: FDO) today reported record sales and earnings results for the fourth quarter and year ended August 25, 2012.
Net sales for the fourth quarter of fiscal 2012 increased 10.8% to $2.36 billion, and net income per diluted share in the fourth quarter of fiscal 2012 increased 4.5% to $0.69. Included in the results for the fourth quarter of fiscal 2012 was a litigation charge of $0.06 per diluted share. Excluding this litigation charge, earnings per diluted share in the fourth quarter of fiscal 2012 would have increased 13.6% to $0.75.
Net sales for fiscal 2012 increased 9.2% to $9.33 billion, and net income per diluted share in fiscal 2012 increased 14.7% to $3.58. Excluding the litigation charge, earnings per diluted share would have increased 16.7% to $3.64 in fiscal 2012.
“Fiscal 2012 was a year of great progress for Family Dollar. We expanded our merchandise assortment to increase our relevancy to our customers; we continued to improve the shoppability of our stores; and we repositioned our leadership team to better support our growth,” said Howard R. Levine, Chairman and CEO. “As a result of these efforts, we delivered another strong year for our shareholders. In fiscal 2012:
- We opened 475 new stores, including 41 stores in California;
- We renovated, relocated or expanded 854 stores;
- We substantially expanded our assortment in key consumable businesses like food and health and beauty aids;
- We introduced new categories like tobacco, magazines and gift cards;
- We expanded coolers in 1,375 stores;
- We enhanced our communications to customers through improvements in our marketing capabilities;
- We opened our 10 th distribution center and began construction of our 11 th distribution center;
- We delivered another year of double-digit earnings per share growth;
- We increased the annual dividend paid to shareholders by 16.4%; and
- We increased return on shareholders’ equity and return on invested capital.
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