Same-store sales for the third quarter, which ended June 2, rose 1.5%, while total sales increased 5.4%, to just less than $1.7 billion. Net income came in at $60.4 million, up from $56.8 million during the same year-ago period.

Levine says fluctuating energy prices have impacted sales, but that he expects improvements in employment and wages to help the retailer's low-income consumer base. The continued acceptance of food stamps in Family Dollar sales could also provide a sales boost.

About 1,500 of the company's 6,300 units are in urban markets, and the company will continue to focus on those markets, where Levine says the outfit has a "strategic advantage" with other deep-discount chains. "We continue to be very positive about the urban initiative," he says.