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  "documentTitle": "Family Dollar Stores (FDO)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2011-05-25 00:00:00",
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  "notes": "The slide uses a comparative analysis between DG and FDO to justify a pro-forma valuation.",
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      "text": "If Family Dollar's square footage were as productive as Dollar General's, the company would earn ~$6 of EPS and be worth ~$90 per share at a 15x P/E",
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      "text": "If Family Dollar’s square footage were as productive as Dollar General’s, the company would earn ~$6 of EPS and be worth ~$90 per share at a 15x P/E",
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      "text": "Note: Estimates for DG are FY ending Jan. 2013, and for FDO FY ending Aug. 2012",
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      "kind": "title",
      "text": "What Is the Productivity Gap Opportunity Worth?",
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