Fred

vadimsudigrenev.blogspot.com
The Memphis-based discount retailer reported salezsof $134.7 million for May, down 6 percent compared to salews of $143.4 million in May 2008. These numbersd include Fred’s (NASDAQ: closing 74 underperforming stores and 23 Excludingthose stores, Fred’z sales increased 1 percent compared to last May. Comparabls store sales in May rose 0.2 percent, down compared to 3.4 percen in the same period last year. For the firstr four fiscal monthsof 2009, the compan y reported total sales of $593. 1 million, down 2.4 percent compared to $607.7 million for the same year-ago period.
However, excluding stores closed in sales from ongoing stores increased 4 percent compareds to thesame four-month period last On a comparable store basis, year-to-date sales increasef 2.1 percent compared to 2.4 percent last year. Fred’s openex one new pharmacy in May. Fred’s operateds 666 discount merchandise stores, including 24 franchised storews nationwide. Shares closed down 12 cents to $14.232 per share Wednesday.