Big changes at Family Dollar after earnings miss

|About: Family Dollar Stores Inc. (FDO)|By:, SA News Editor

Family Dollar (FDO) says it will cut jobs and close 370 under-performing stores as it looks to improve its profitability.

The company saw same-store sales fall 3.8% in FQ2 and expects a decline in FQ3 as well. To help it alleviate any further loss in market share, Family Dollar says it will cut prices on 1,000 items.

FDO +0.8% premarket