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Family Dollar profit up but same-store sales flat, cautious on 2014

A Family Dollar store is seen in Chicago, June 25, 2012. REUTERS/Jim Young
A Family Dollar store is seen in Chicago, June 25, 2012. REUTERS/Jim Young

(Reuters) - Family Dollar Stores Inc posted a higher quarterly profit on Wednesday, as it worked on keeping its costs down while shoppers' focus on everyday purchases such as food pressured sales, and said it has a cautious approach to 2014.

The discount chain, which warned months ago that the economy was taking a toll on its shoppers, earned $102.2 million, or 88 cents per share, in the fiscal fourth quarter ended August 31, up from $80.9 million, or 69 cents per share, a year earlier.

Sales rose 5.8 percent to $2.5 billion. However, same-store sales, or sales at stores open at least a year, were flat. Back in July, the company had anticipated its same-store sales would rise about 2 percent in the quarter.

(Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick)

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