Citigroup Reiterates Buy Rating And $61 PT On FDO

Family Dollar Stores, Inc. FDO announced that it has recruited Paul White to serve as its SVP of Apparel, Home, and Seasonal, reporting to Dorlisa Flur, EVP & Chief Merchandising Officer, Citigroup reports. “Previously, apparel and home were led by Mr. Kvitko (who left FDO in March 2010) and seasonal was overseen by John Scanlon, FDO's SVP of Merchandising on the Hardlines side (there was no SVP-level leadership specifically for seasonal),” Citigroup writes. “Mr. White brings extensive retail experience and will lead the entire discretionary merchandise effort at FDO, which we believe will increase the cohesiveness of FDO's merchandise presentation, assortment, and messaging on the higher-margin discretionary side of the business. We reiterate our Buy (1M) rating and $61 price target for FDO.” Family Dollar Stores closed Friday at $43.22.