Family Dollar Pockets $87.7 Million - TheStreet

Family Dollar Pockets $87.7 Million

Family Dollar Stores posts a 36% jump in quarterly profit, as shoppers are attracted to its low prices.
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In these trying times, families are looking to save a dollar -- and, lo and behold, there is

Family Dollar Stores

(FDO)

, which announced today that is profiting handsomely during the downturn.

The discount chain, which sells most of its products for under $10, posted a 36% jump in third-quarter profit and forecast fourth quarter earnings in line or even above analysts' estimates.

The company earned $87.7 million during the quarter, or 62 cents per share, compared with $64.7 million, or 46 cents per share, a year ago. Analysts expected earnings of 59 cents.

Looking forward, the company expects fourth-quarter earnings in the range of 39 cents to 43 cents a share, while analysts are for a profit of 39 cents.

Last month, the company said its quarterly sales rose 8% to $1.84 billion, while its same-store sales grew 6.2%.

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