Increased Traffic Leads Family Dollar (FDO) to Q2 Beat; Raises FY12 Outlook
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Shares of Family Dollar (NYSE: FDO) are indicated for a lower open Wednesday despite solid second-quarter numbers and guidance earlier.
Quarterly revenue rose 8.6 percent from $2.26 billion in the same period last year to $2.46 billion. Net income popped 10.8 percent to $136.42 million, or $1.15 per diluted share.
The Street was expecting revs of $2.46 billion and EPS of just $1.13.
Comps rose 4.5 percent in the period, largely due to increased traffic rather than larger basket size.
Inventories rose 15.4 percent as Family Dollar looked to expand the scope of the company's offerings.
Looking ahead, Family Dollar sees third-quarter 2012 comps increasing 5 percent to 7 percent with earnings of $1.01 to $1.11 per share. The Street is looking for EPS of 1.06.
For fiscal 2012, sales are expected to rise 9 percent to 10 percent, leading to earnings of $3.55 to $3.75 per share. The company had previously guided sales growth to 8-10 percent and EPS to $3.50-$3.75. The Street currently expects EPS of $3.61.
Family Dollar shares are down about 0.7 percent early Wednesday.
Quarterly revenue rose 8.6 percent from $2.26 billion in the same period last year to $2.46 billion. Net income popped 10.8 percent to $136.42 million, or $1.15 per diluted share.
The Street was expecting revs of $2.46 billion and EPS of just $1.13.
Comps rose 4.5 percent in the period, largely due to increased traffic rather than larger basket size.
Inventories rose 15.4 percent as Family Dollar looked to expand the scope of the company's offerings.
Looking ahead, Family Dollar sees third-quarter 2012 comps increasing 5 percent to 7 percent with earnings of $1.01 to $1.11 per share. The Street is looking for EPS of 1.06.
For fiscal 2012, sales are expected to rise 9 percent to 10 percent, leading to earnings of $3.55 to $3.75 per share. The company had previously guided sales growth to 8-10 percent and EPS to $3.50-$3.75. The Street currently expects EPS of $3.61.
Family Dollar shares are down about 0.7 percent early Wednesday.
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