Family Dollar 4Q EPS up 46.2%

MATTHEWS, N.C. Family Dollar Stores reported that net income per diluted share in the fourth quarter of fiscal 2008 increased 46.2% to 38 cents compared with 26 cents per diluted share in the fourth quarter of fiscal 2007. Net income for the fourth quarter of fiscal 2008 increased 40.7% to $53.2 million, compared with $37.8 million for the fourth quarter of fiscal 2007.

“As expected, fourth quarter sales benefited from the effect of the government stimulus checks distributed this summer. Strong sales of consumables and effective management of inventory risk, combined with disciplined expense control resulted in robust earnings growth,” said Howard Levine, chairman and ceo.

As previously reported, net sales for the fourth quarter of fiscal 2008 were $1.766 billion, or 8.2% above sales of $1.632 billion for the fourth quarter of fiscal 2007. Sales in comparable-stores increased 5.6%.

For the fiscal year ending Aug. 29, 2009, the company expects net sales to increase 3% to 5% as compared with the fiscal year ended Aug. 30, 2008. The company expects comparable store sales will increase 1% to 3% and expects to open approximately 200 new stores.

For the first quarter of fiscal 2009, the company expects net sales to increase 4% to 6% and comparable-store sales to increase 2% to 4%.