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Howard Levine

Family Dollar Shares Fall After Earnings Miss

Family Dollar Stores Inc. reported its fiscal second-quarter profit fell to $90.9 million, or 80 cents a share, from $140.1 million, or $1.21 a share, a year earlier. Revenue fell to $2.72 billion, from $2.89 billion a year earlier, the discount retailer said Thursday. Analysts had expected earnings of 90 cents a share on revenue of $2.77 billion, according to FactSet. Same-store sales were down 3.8% last quarter. "Our second quarter results did not meet our expectations," said Chairman and CEO Howard Levine, noting that the holiday season proved particularly challenging. Family Dollar said it is closing about 370 under-performing stores. The retailer expects a per-share earnings range for the current quarter of $0.85 to $0.95, which excludes restructuring charges. For the full year, the firm expects an earnings per share range of $3.05 to $3.25. Shares in Family Dollar were down 1.8% in premarket trading.Copyright © 2014 MarketWatch, Inc....

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