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Family Dollar Profit Falls

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Matthews, N.C. Family Dollar Stores Inc. said on Tuesday quarterly profit fell as sales at older stores declined and customers cut their discretionary spending.

Net income for the quarter ended Dec. 1 fell 4% to $51.9 million from a profit of $54.1 million in the year ago quarter.

Revenue rose 5% to $1.68 billion, from $1.6 billion a year ago. Same-store sales fell 1%.

The company said sales of consumables and seasonal and electronics products were the strongest.

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