Posted by admin | Posted in Hollister | Posted on 12-07-2010
Tags: American eagle, Baby Phat
Levine said the “environment remains challenging for consumers, and customers continue to buy close to need.”
Sales at stores open at least a year grew 7 percent during the third quarter on better consumer traffic. This figure is a key indicator of retailer performance since it measures growth at existing stores while excluding sales at newly opened stores.
The company runs more than 6,700 stores in 44 states.
Analysts polled by Thomson Reuters expected earnings of 76 cents per share on revenue of just under $2 billion.
Revenue rose 8 percent to just under $2 billion from $1.84 billion a year ago.
For the fourth quarter, Family Dollar expects net income between 46 cents and 51 cents per share, and full-year net income between $2.53 and $2.58 per share.
MATTHEWS, N.C. – Family Dollar Stores Inc. said Wednesday its fiscal third-quarter profit jumped 19 percent, but its earnings guidance for the fourth quarter disappointed Wall Street and sent its shares down more than 6 percent.
Family Dollar shares fell $2.53, or 6.4 percent, to $36.91 in morning trading.
The company reported net income of $104.4 million, or 77 cents per share,Baby Phat, for the three months ended May 29, up from $87.7 million, or 62 cents per share,American eagle, a year earlier.
But analysts expected higher earnings of 53 cents per share for the fourth quarter and $2.59 per share for the full year.
Chairman and CEO Howard R. Levine said sales at stores open at least a year were up about 5.5 percent in June, the first month of the fourth quarter. But that was slower than the 7 percent rise in the third quarter.