Mary Winston Speaks on the Sequester's Effect on Family Dollar
Family Dollar (NYSE: FDO) CFO Mary Winston stopped into CNBC's SquawkBox Tuesday morning to share insight on the company's strategy. Here are some highlights:
- Average customer makes less than $40,000 a year;
- Anything that takes money out of customers' pockets, hurts spending power at their stores;
- Consumers may forgo more discretionary items if gas prices and other costs continue to rise.
Maximizing shareholder value
- To maximize shareholder value they will use capital expenditures, while dividends would be second;
- The company plans to open 500 stores this year, after opening 475 last year;
- New customers entering dollar channel even as existing customers continue to be squeezed by economic conditions.
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