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The Discounter’s Dilemma

Back on Aug. 11 Cramer called Family Dollar Stores a sell, citing the turn in the economy. With consumers feeling more confident, he said, there’d be less reason to trade down to this discount retailer. But a conversation on Friday with the company’s CEO changed his mind.

Howard Levine, who also serves as chairman, talked up all the exciting changes at his store and gave Cramer an overview of the discount-retail space ahead of Dollar General’s IPO next week. Something’s working because FDO is up about 10% since the Mad Money host turned on it. Levine made such an impression that Cramer sprung the stock from the Sell Block and called Family Dollar a buy.

So what exactly is taking place at FDO? Watch the full interview to find out.

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    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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