Levine: Family Dollar customers have "not benefited from this recovery at all"

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

Family Dollar (FDO) CEO Howard Levine had strong words on the economic state of America’s low-income consumers yesterday in the discount retailer's earnings conference call, saying "the low-end consumer has not benefited from this recovery at all - in fact, I think have slipped further back."

But Levine thinks he can coax more money from customers by selling beer and wine; FDO has been testing alcohol sales for two years and had its best-ever beer sales on this year's July 4 weekend, prompting an accelerated rollout for 2015.

Meanwhile, Carl Icahn, who wants the company to sell itself to rival Dollar General (DG), points to the top in assigning blame for FDO's woes: "The leadership, to say the least, is questionable at Family Dollar and it's been that way for many years."