Family Dollar Profit Falls

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.