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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": "FDO refers to Family Dollar (implied).",
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      "kind": "callout",
      "text": "Wal-Mart and dollar stores can coexist. Management believes FDO has ~3% share of their core customer’s wallet compared to WMT’s ~35% share",
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      "text": "Price Index: 100",
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      "text": "Dollar stores offer pricing comparable to Wal-Mart in a more convenient format. Lower income customers use dollar stores as weekly fill-in trips between supercenter destination shopping. The average FDO store visit is 8 minutes",
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      "text": "Concept | Price Index | Store Size ('000)\nDollar Stores | 100 | 7\nDrug Stores | ~120 | 40\nGrocers | ~115 | 40\nMass Merchants | ~95 | 125",
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      "text": "Value Proposition: Price and Convenience",
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