Family Dollar in Firm Shape.(Family Dollar Stores Inc. financial news)(Financial report)
Home Textiles Today, January, 2007 by Hogsett, Don
By Don Hogsett Matthews, N.C. - Helped by stronger margins, stringent inventory controls, and money it earned on its investments, Family Dollar Stores Inc. recorded a first-fiscal-quarter profit of $54.4 million, up 5.8% from $51.4 million during the same period a year ago. But the numbers are only preliminary, the retailer emphasized, and might be revised when it completes an ongoing review of the way it handed out stock options in the past.
Other retailers, tagged in a widespread scandal revolving around the practice of back-dating options to inflate their value, have been forced to substantially revise or reduce their earnings as they revalue the options to their fair value, or to protect those workers who got the options from a big bill...
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