Family Dollar Stores (NYSE:FDO) announced that it earned a higher profit due to food sales, though margins remained tight, and earnings were hit by a litigation settlement. The company earned $80.9 million, or 69 cents per share in the most recent fiscal quarter, up from $79.8 million, or 66 cents per share in the same period last year. Sales increased by 10.8 percent to $2.36 billion, while same store sales increased by 5.4 percent.
Shares are higher in early trading.
Last month, competitor Dollar Tree (NASDAQ:DLTR) announced 33 percent higher earnings over the same period last year, due to increased sales and better margins.
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