Jim Cramer sits down with Dollar Tree CEO Gary Philbin to learn how the company is reducing its Family Dollar footprint and bringing more customers into its stores.
Dollar Tree's turnaround plan is producing results as more customers are choosing to shop in its stores, CEO Gary Philbin told CNBC Wednesday.
The company has invested $1 billion to renovate its Family Dollar stores to give it a"wow" factor and the entire enterprise was able to generate about $2 billion of cash flow, Philbin said in an interview on "Mad Money with Jim Cramer." Dollar Tree is on a mission to renovate a total of 1,000 stores. The company still plans to continue closing underperforming Family Dollar locations that could total 390 stores. But Philbin also said they have been"very methodical" about paying down debt, which has helped their rates go down.
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