MATTHEWS, N.C.–Family Dollar Stores posted fourth-quarter top- and bottom-line gains.
Net income increased 40.7 percent to $53.2 million. Net sales rose 8.2 percent to $1.77 billion. Comparable-store sales rose 5.6 percent.
“As expected, fourth-quarter sales benefited from the effect of the government stimulus checks distributed this summer,” said Howard Levine, chairman and chief executive officer, in a statement. “Strong sales of consumables and effective management of inventory risk, combined with disciplined expense control, resulted in robust earnings growth.”