UPDATE: Family Dollar Posts Upbeat Q3 Profit, Narrows Earnings Outlook

Family Dollar Stores

reported a drop in its third-quarter profit. Family Dollar's quarterly profit declined to $120.94 million, or $1.05 per share, versus $124.54 million, or $1.06 per share, in the year-ago period. Its revenue climbed 9% to $2.57 billion from $2.36 billion. However, analysts were estimating earnings of $1.03 per share on revenue of $2.57 billion. Family Dollar narrowed its full-year earnings forecast to $3.77 to $3.82 per share, versus its earlier view of $3.73 to $3.93 per share. Family Dollar shares gained 2.86% to $65.75 in pre-market trading.