Family Dollar Q2 profit jumps 33%

Matthews, N.C. Family Dollar Stores said Wednesday fiscal second-quarter earnings rose 33% as shoppers turned to the discount retailer for food and other necessities.

Profit rose to $84.1 million, from $63.3 million in the same period last year. Sales rose to $1.99 billion from $1.83 billion, boosted by demand for consumables, especially food.

“While the current environment has resulted in more budget-minded consumers, our strong performance is also the result of significant investments we have made to enhance the Family Dollar shopping experience. Our multi-year focus on building and retaining great employee teams, improving merchandise quality, and enhancing the shopability of our stores has positioned us well to serve our core customers better while also satisfying new customers who may be visiting our stores for the first time,” said Howard R. Levine, chairman and CEO.