Family Dollar Q3 profit up, misses Street

Matthews, N.C. -- Family Dollar Stores' third-quarter net income increased 6.5% as broader markdowns drew more store traffic. Its results, however, fell short of analysts' expectations.



For the quarter ended May 28, Family Dollar had net income of $111.1 million, compared with $104.4 million a year earlier.



Revenue was up 8% to $2.15 billion. Same-store sales rose 4.7%.



Family Dollar said sales were strongest in consumables and home products.