Family Dollar Shares Fall On Low Profit, Weak Outlook
Posted on January 03, 2013 at 12:17 PM EST
Family Dollar Stores' (FDO) shares tumbled 11% intraday Thursday, their lowest level since late March, after its quarterly profit fell well short of analyst views. The company also forecast earnings for the current quarter below projections. The discount chain said fiscal first quarter earnings per share were 69 cents, up a penny from last year, but 6 cents below projections. Sales grew 13% to $2.42 billion, better than the $2.38 billion Wall