Family Dollar Stores reports February sales rise

Discount store chain Family Dollar Stores Inc on Thursday said sales at stores open at least a year rose 1.3 percent in February.

Photo: Family Dollar Stores reports February sales rise

Family Dollar is a variety store chain that has locations across the United States .

Analysts, on average, had been expecting it to post a same-store sales decrease of 0.2 percent.

Net sales for the four weeks ended March 1 rose 4.4 percent to $533.7 million.

The retailer also noted that its stores will be closed for the Easter holiday, which will hurt March results and help April results.

The holiday occurred in the April sales period last year, but falls in March this year. Family Dollar expects March same-store sales to fall 2% to 4%.

Family Dollar is not a true "dollar store" in the strict sense; while there are many items available for $1, there are other price points as well. However, approximately 90% of the products cost less than $10. With most locations set up like a typical supermarket, the chain deals in food items, clothing and assorted household products.