Family Dollar Stores Inc
Family Dollar, which sells most of its merchandise for under $10, said it had earned $60.1 million, or 43 cents per share, in the fourth quarter ended on August 29, compared with $53.2 million, or 38 cents per share, a year earlier.
Analysts on average were expecting earnings of 41 cents per share, according to Thomson Reuters I/B/E/S, while Family Dollar had forecast 39 cents to 43 cents.
Last month, Family Dollar said quarterly net sales rose 2.6 percent to about $1.81 billion, while sales at stores open at least a year rose 1 percent. That same-store sales growth was below its forecast for a rise of 2 percent to 4 percent, and it blamed the shortfall on store reorganizations.
Family Dollar has been rearranging the space in its stores to stock more food and other consumable items as shoppers stick to buying necessities.
Shares of Family Dollar were up 1.5 percent at $28.90 in light premarket trading.
(Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)