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Family Dollar Stores reports record sales, earnings in 3Q

Family Dollar Stores said it had record sales and earnings in the third quarter.

The Matthews-based discount retailer said net income rose 6.5 percent to $111.1 million, or 91 cents per diluted share, from $104.4 million, or 77 cents per diluted share, in the year-ago quarter.

The company’s third quarter ended May 28.

Net sales for the quarter increased 7.8 percent to $2.15 billion from $1.99 billion in the same quarter last year.

For the fourth quarter, the company expects earnings per share to be between 62 cents and 70 cents, up from 56 cents in the fourth quarter last year.

For the full fiscal year, the company expects earnings per share between $3.08 and $3.16, up from $2.62 in fiscal 2010.

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