Home / Knowledge / News / Apparel/Garments / Q2FY15 EPS slips 16% at Family Dollar
Q2FY15 EPS slips 16% at Family Dollar
11
Apr '15
For the second quarter of fiscal 2015 ended February 28, 2015, net income per diluted share slipped 16 per cent year over year at NYSE listed Family Dollar Stores.

In the second quarter of fiscal 2015, Family Dollar reported net income per diluted share of $0.67 compared to $0.80 in the second quarter of fiscal 2014 ended March 1, 2014.

“Excluding fees related to the pending merger with Dollar Tree, second quarter fiscal 2015 net income per diluted share was $0.74,” it said in a press release.

Total net sales in the reporting quarter increased 3.0 per cent to $2.80 billion from $2.72 billion in the prior fiscal quarter.

Comparable store sales for the 13-week period rose slower by 0.5 per cent as a result of an increase in customer transaction numbers, offset by a decrease in the average customer transaction value.

Gross profit for the second quarter of fiscal 2015 climbed to $931.1 million, or 33.3 per cent of net sales, as against $902.3 million, or 33.2 per cent of net sales in the same quarter of fiscal 2014.

“As a percentage of sales, the benefit of lower markdowns was partially offset by increased sales of lower-margin consumables,” the retailer added.

SG&A expenses in the second quarter of fiscal 2015 were $805.3 million, or 28.8 per cent of sales, up from $762.0 million or 28.1 per cent of sales in the corresponding quarter of previous fiscal year.

“The increase in SG&A, as a percentage of net sales, was primarily a result of higher store occupancy costs, higher store payroll expense, and higher insurance expense,” Family Dollar informed.

“The impact of these increases was partially offset by lower corporate payroll in the second quarter of fiscal 2015 as compared to the second quarter of fiscal 2014,” it further added.

Operating profit for the second quarter reached $117.5 million or 4.2 per cent of sales. In the same quarter, it incurred $8.2 million in expenses related to its pending merger with Dollar Tree.

Excluding these merger expenses, adjusted operating profit in the quarter under review touched $125.8 million, or 4.5 per cent of sales as compared to $140.3 million, or 5.2 per cent of sales, in the prior fiscal quarter.

The effective tax rate in the second quarter of fiscal 2015 was 35.1 per cent as against 35.3 per cent in the second quarter of fiscal 2014.

Adjusted net income for the second quarter of fiscal 2015 stood at $84.9 million, excluding fees related to the pending merger with Dollar Tree, compared with $90.9 million in the second quarter of fiscal 2014.

The Company’s merchandise inventories at February 28, 2015, increased 3.5 per cent to $1.72 billion from $1.66 billion at March 1, 2014.

Average inventory per store at the end of the second quarter of fiscal 2015 was approximately 3% higher than the average inventory per store at the end of the second quarter of fiscal 2014.

According to Family Dollar, the increase in average inventory per store was primarily the result of the Company’s expanded assortment of tobacco and food. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Mar 2017

'Increase in demand for organic designer linen'

There has been an increase in the demand for organic designer linen....

Apparel/Garments | On 29th Mar 2017

Jo-Ann launches 'Buy Online, Pick Up in Store' service

Jo-Ann Fabric and Craft Stores, a specialty retailer of crafts and...

Courtesy: Pratibha Syntex

Textiles | On 29th Mar 2017

Pratibha Syntex wins C&A's Best Global Supplier Award

Pratibha Syntex, a leading manufacturer and exporter of knitted...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search