Family Dollar raises earnings forecast on sales increase

MATTHEWS, N.C. – Family Dollar Stores Inc., which recently rebuffed an unsolicited buyout offer, reported that sales for the second quarter ended February 26 rose 8.3% to $2.09 billion. Comparable-store sales increased 5.1%, despite a negative impact in January from harsh weather. As a result, the company has raised its second-quarter earnings guidance to a range of 97 cents to 98 cents per diluted share from its January estimate of 92 cents to 97 cents per share. Earlier this month Family Dollar’s board of directors rejected a buyout offer of $55 to $60 per share from New York-based Trian