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Howard Levine

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Family Dollar Blames Tax-Return Delay for 2Q Miss

Hurt by delayed tax returns, discount retailer Family Dollar Stores (NYSE:FDO) posted a weaker-than-expected 2.7% rise in fiscal second-quarter profits on Wednesday and once again downgraded its outlook for the full year.Wall Street punished Family Dollar for the earnings miss and gloomier guidance, driving its shares almost 5% into the red.The company said it earned $140.1 million, or $1.21 a share, last quarter, compared with a profit of $136.4 million, or $1.15 a share, a year earlier. Analysts had been calling for EPS of $1.22 and the company had forecasted EPS of $1.18 to $1.28.Sales jumped 18% to $2.89 billion, meeting the Street's view. Same-store sales increased 2.9%, missing the company's targets of 4% to 5%."This quarter we delivered positive results despite financial pressures that continue to challenge our customers," CEO Howard Levine said in a statement.Levine said Family Dollar's results were hurt by the surprise delay of the 2012 tax refunds due to the fiscal cliff stal...

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  1. Family Dollar's 3Q Results Trail Forecasts

    Family Dollar (NYSE:FDO) disclosed a weaker-than-expected 12% rise in fiscal third-quarter earnings on Thursday, sending its stock slumping.The discount retailer als...

  2. Family Dollar Trades Lower on Disappointing 1Q Sales

    Family Dollar (NYSE:FDO) reported a stronger first-quarter profit on a surge for consumables during the holidays, however its shares shed about 6% on Friday as sales...

  3. Family Dollar Profit Up 8%, Sets Stock Buyback

    Family Dollar Stores (NYSE:FDO) revealed on Wednesday a stronger-than-expected fourth-quarter as sales at its more established stores continued to grow and strategic...

  4. Smart Money: Hedge funds see bargains in discount retail

    By Jessica WohlCHICAGO (Reuters) - With gas prices and unemployment high, low-income shoppers are not the only ones trying to find the best bargains in discount stor...

  5. Family Dollar board rejects $7 billion Peltz bid

    By Jessica WohlCHICAGO (Reuters) - Family Dollar Stores Inc <FDO.N> rejected Trian Group's bid to buy the company for at least $7 billion, saying it "substantially u...

  6. Family Dollar Board Rejects $7 Billion Peltz Bid

      Family Dollar Stores Inc rejected Trian Group's bid to buy the company for at least $7 billion, saying it "substantially undervalues" the retailer.The company's bo...

  7. Family Dollar Stores 4Q Revenue Higher on Consumables

    Family Dollar Stores (NYSE:FDO) said Thursday that its fourth-quarter sales only slightly trumped expectations, as more consumers sought financial reprieve in the st...

  8. Family Dollar CEO: Very Positive Outlook

    Family Dollar CEO on retail and the economy.

  1. Family Dollar Boosts Dividend, Approves $300 Million Share Buyback

    Family Dollar Stores Inc. (FDO) has increased its quarterly dividend by nearly 24% and authorized a buyback of $300 million in shares, as the retailer seeks to boost...

  2. December retail sales mixed, nimble chains do better

    Several major U.S. retailers beat expectations of modest sales increases in December as shoppers wrapped up holiday buying, but overall results were mixed and only s...

  3. December sales strong, but some chains under pressure

    Several major U.S. retailers beat expectations of modest sales increases in December as shoppers wrapped up holiday buying, but results were mixed and only stores th...

  4. Weak December sales show shoppers under pressure

    Some major U.S. retailers had a tough December, with chains like Target and Family Dollar feeling the pinch as consumers were cautious in their holiday spending.The ...

  5. Family Dollar Calls Holiday Disappointing, Lowers Outlook

    Shares of Family Dollar (NYSE:FDO) tumbled Thursday morning after the retailer said the holiday selling season proved a disappointment and lowered its fiscal 2013 ea...

  6. Family Dollar's 1.4% Rise in 4Q Net Meets Views

    Family Dollar (NYSE:FDO) met Wall Street's expectations on Wednesday with a 1.4% increase in fiscal fourth-quarter earnings as the discount retailer logged a healthy...

  7. Family Dollar CEO: Our Customer is Really Struggling

    Family Dollar CEO Howard Levine on the Democratic Convention and the difficult economy.

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