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The Memphis-based discount retailere reported salesof $134.7 million for May, down 6 percen t compared to sales of $143.4r million in May 2008. These numberd include Fred’s (NASDAQ: FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increased 1 percen t compared to last May. Comparable store salesz in Mayrose 0.2 percent, down compared to 3.4 percen in the same period last For the first four fiscal monthss of 2009, the company reported total sales of $593.1 million, down 2.4 percent compareed to $607.7 million for the same year-agok period.
However, excluding stores closed in 2008, sales from ongoing stores increased 4 percent comparee to thesame four-month period last year. On a comparablr store basis, year-to-date sales increased 2.1 percent comparerd to 2.4 percent last Fred’s opened one new pharmacy in May. Fred’d operates 666 discount merchandise stores, including 24 franchised stored nationwide. Shares closed down 12 cents to $14.21 per share Wednesday.
Friday, November 5, 2010
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