Family Dollar declares earnings for Q4 & fiscal 2006
04 Oct '06
3 min read
Family Dollar Stores Inc reported that net income per diluted share for the fourth quarter of fiscal 2006 ended August 26, 2006, increased 44.4 percent to $0.26 compared with $0.18 for the fourth quarter of fiscal 2005 ended August 27, 2005.
Net income for the fourth quarter increased 32.9 percent to $38.8 million compared with net income of $29.2 million for the fourth quarter of fiscal 2005.
Fourth Quarter Results
As previously reported, sales for the fourth quarter of fiscal 2006 were approximately $1.578 billion, or 10.3 percent above sales of approximately $1.430 billion for the fourth quarter of fiscal 2005.
Sales of food, apparel and electronics, including pre-paid cellular phones and services, were the primary drivers of the sales increase.
Sales in comparable stores increased approximately 4.9 percent. The customer count, as measured by the number of register transactions in comparable stores, decreased approximately 0.5 percent, and the average transaction increased approximately 5.2 percent to $9.45.
During the fourth quarter of fiscal 2006, the Company opened 108 new stores and closed 8 stores.
The gross profit margin, as a percentage of sales, was 32.4 percent in the fourth quarter of fiscal 2006 compared to 31.9 percent in the fourth quarter of fiscal 2005.
As a percentage of sales, a more favorable merchandise sales mix, improved merchandise mark-up and a modest improvement in shrinkage expense more than offset higher freight costs resulting from higher fuel costs.
marketing@alchempro.com
