Fred

andreychukuze.blogspot.com
The Memphis-based discount retailer reported saleasof $134.7 million for May, down 6 percent compared to sales of $143.4r million in May 2008. These numbers includs Fred’s (NASDAQ: FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increases 1 percent compared to last May. Comparable store sales in Mayrose 0.2 down compared to 3.4 percent in the same periode last year. For the first four fiscal montheof 2009, the company reportec total sales of $593.2 million, down 2.4 percent comparesd to $607.
7 million for the same year-ago However, excluding stores closed in 2008, sales from ongoingh stores increased 4 percent compared to the same four-month periofd last year. On a comparable store year-to-date sales increased 2.1 perceny compared to 2.4 percen last year. Fred’s openeed one new pharmacy in May. Fred’sw operates 666 discount merchandise stores, including 24 franchised stores nationwide. Shares closed down 12 cents to $14.23 per share Wednesday.