MATTHEWS, N.C. — Family Dollar Stores here on Friday said its fourth-quarter net income improved 40.7% to $53.2 million, on consumables sales increases sparked by government stimulus checks, along with internal cost controls. The discounter previously reported that sales for the fourth quarter, which ended Aug. 30, were up by 8.2% to $1.8 billion and comparable-stores sales improved by 5.6%. Gross profit as a percent of sales dipped to 32.9% from 33.1% reflecting a greater portion of lower-margin consumables in the sales mix. For the fiscal year sales of $7 billion increased 2.2% while net income of $233 million was down by 4.1% from last year.
Read More of Today's Headlines