WASHINGTON (dpa-AFX) - Family Dollar Stores, Inc. (FDO) reported that its second quarter net income decreased year-over-year to $76.7 million or $0.67 per share, from $90.9 million or $0.80 per share.
Excluding fees related to the pending merger with Dollar Tree, Inc. (DLTR), earnings per share for the latest second quarter was $0.74, down from $0.80 per share in the comparable quarter last year. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.73 for the quarter. Analysts' estimates typically exclude special items.
Total net sales increased 3.0% to $2.80 billion from $2.72 billion, a year ago. The company reported that its comparable store sales for the 13-week period increased 0.5% as a result of an increase in the number of customer transaction which was offset by a decrease in the average customer transaction value. Analysts expected revenue of $2.80 billion for the quarter.
In light of the pending transaction, the Company has not provided earnings guidance for fiscal 2015.
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