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Family Dollar’s Q3 net income drops 3%; announces merchandising changes
Matthews, N.C. -- Family Dollar reported lower net income in the third quarter of 2013 as its shoppers continue to hold off on discretionary spending. The discounter also named Jason Reiser to the position of senior VP merchandising.
Family Dollar posted net income of $120.9 million, down 3% from $124.5 million in the year-ago period. Its results, however, topped expectations.
Sales rose 9% to $2.57 billion. Same-store sales increased 2.9% as a result of higher customer transaction totals and traffic volumes.