Family Dollar Cuts Profit Forecast as Shoppers Cut Back
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Family Dollar Stores Inc., the second-biggest U.S. dollar-store retailer, forecast that profit this year will be less than it previously expected as shoppers curb discretionary spending.
Profit in the current fiscal year will be as much as $3.93 a share, the Matthews, North Carolina-based company said today in a statement. That’s down from a January forecast of as much as $4.20 and less than the $3.96 average estimate of 27 analysts in a Bloomberg survey.