Family Dollar profit climbs 33% in Q2

Matthews, N.C. Family Dollar Stores said its fiscal second-quarter profit rose as shoppers snapped up home goods and other items.

Family Dollar's second-quarter earnings climbed 33% to $112.2 million, compared with $84.1 million a year earlier.

Revenue for the period ended Feb. 27 increased 5% to $2.09 billion, from $2 billion.

Same-store sales grew 3.6% during the quarter on better traffic and an increase in the value of the average customer transaction.

Aside from home goods, Family Dollar posted strong sales gains in its seasonal, electronics and consumables segments. Clothing and accessory sales were essentially flat.

Inventories declined to $935.3 million, from $1.04 billion.

Family Dollar said same-store sales climbed about 11% in March, helped by nice weather and a shift in the Easter holiday.