FX: Dollar Beats Profit Estimates By A Penny, But Guidance Falls Short
Jul 07, 2010 (SmarTrend News Watch via COMTEX) ----6/7/2010-Family Dollar (NYSE:FDO) reported Q3 EPS of $0.77, topping consensus estimates by a penny.
Sales in the quarter rose 8.4% to $2 billion, inline with consensus estimates.
The company said its gross profit margin rose to 36.6% from 36.2% due to a reduction in markdown expenses as well as inventory shrinkage.
FDO expects to report EPS of $0.46 - $0.51 for the Q4 with comp sales growth between 5% and 7%.
For the full year, the company expects earnings in the range of $2.53 and $2.58 a share. Analysts, on average, were forecasting EPS of $2.59 per share.
