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Before the opening bell on Wednesday, discount retailer Family Dollar (FDO) reported lower profits for the second quarter, but beat analysts’ estimates.
Howard R. Levine, Chairman and CEO commented: “We continue to see tangible benefits from the investments we have made to strengthen our value proposition for customers. Our comparable store sales and customer traffic trends are improving, and we are beginning to see stabilization in key categories. While our trends in late-February were adversely impacted by severe winter weather, our sales trends in March rebounded nicely, reflecting both improved traffic trends and the benefit of an earlier Easter."“We are excited about the pending merger with Dollar Tree, and our teams are working to ensure a successful integration.”
Shares of FDO were inactive during premarket trading Wednesday. The stock has been flat YTD.