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Family Dollar 1Q Earnings Up 13.5%

BY CSA STAFF

Matthews, N.C. Family Dollar Stores Inc. said Wednesday its fiscal first-quarter earnings jumped 13.5%, beating Wall Street’s expectations, as bargain-hunting customers increasingly turned to the discount retailer for food and other necessities.

Earnings for the quarter ended Nov. 29 rose to $59.3 million, from $51.9 million for the quarter ended Dec. 1, 2007.

Quarterly sales rose 4.25 to $1.75 billion, from $1.68 billion in the prior year. Same-store sales rose 2.1% on greater customer traffic and average-transaction value.

The company said sales were strongest in the consumables category, driven mostly by food purchases. Family Dollar forecast second-quarter profit above Wall Street’s expectations, and anticipates a same-store sales increase of 3% to 5% during the quarter.

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MacDowell named president of Charming Outlets

BY CSA STAFF

BENSALEM, Pa. Charming Shoppes has announced that MaryEllen MacDowell has been appointed president of Charming Outlets, effective immediately. She succeeds Jeffrey Elliott, who has left the company to pursue another career opportunity.

MacDowell will have leadership responsibility for the company’s Lane Bryant Outlet and Petite Sophisticate Outlet retail chains, and will report to Joseph Baron, EVP and COO of Charming Shoppes.

MacDowell has served as SVP and general merchandise manager of apparel and accessories at the company’s Lane Bryant brand since 2007. From 2002 to 2007, she was the VP and divisional merchandise manager for plus sportswear, dresses, and swimwear for the company’s Fashion Bug brand.

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Best Buy to sell ‘refreshed’ iPhone 3Gs

BY CSA STAFF

MINNEAPOLIS Best Buy announced that it is the first retailer to offer refreshed Apple iPhone 3Gs at store locations nationwide.

The Refreshed iPhone 3G is available at 350 Best Buy Mobile stores at $149 for the 8GB model and $249 for the 16G model, both require a two-year service contract. New iPhone 3Gs currently retail for $199 (8G) and $299 (16G) at Best Buy Mobile.

“The refreshed iPhone is a great example of the depth of our offering, and clear evidence of why Best Buy is the best place to purchase a mobile phone,” said Scott Moore, VP of marketing for Best Buy Mobile. “Where else can you get everything you need to make sure your phone can be utilized to its fullest.”

Best Buy said the refreshed iPhones will expand to all U.S. Best Buy stores that offer AT&T by the end of January.

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