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Matthews, N.C.-based Family Dollar said the expansion of health and beauty products, food items, and tobacco in stores in its fiscal third quarter led to its 17thconsecutive quarter of double-digit growth in earnings per share.
Family Dollar said same-store sales rose 5 percent in the quarter, while EPS gained 16.5 percent from a year earlier. The company expanded coolers in about 700 stores in the quarter to accommodate more food choices, and said it would add an additional 250 new food items this month.
It expanded HBA assortment by 25 percent, beginning in May, and introduced tobacco products in about 1,300 stores. The company also announced that Tammy DeBoer had joined Family Dollar as the vice president of private brands, taking over for Mary Rachide, who has resigned.
“Our game plan remains on track, and I’m very pleased with the progress we are making towards our long-term goals,” CEO Howard Levine told analysts on a conference call announcing the quarterly earnings, as transcribed by Seeking Alpha. “We are investing to increase our relevance to the customer to capture more trips … I am confident that these efforts will help us be a more compelling place to shop, work, and invest.”