MATTHEWS, N.C. — Stock in Family Dollar here fell by more than 8% Thursday after the retailer said store renovations and a tough comparable period cut deeper into sales than it had expected during its fiscal fourth quarter, which ended Aug. 29.
The discounter said same-store sales increased by 1%, vs. an earlier forecast of 2% to 4% growth. Results were impacted by the anniversary of stimulus checks a year ago, as well as by renovations to increase space for food in almost half its stores, the company said in a statement. The company will report earnings results Oct. 7, but maintained its forecasted earnings per share.
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