Fred's reports increase in November sales
MEMPHIS — Fred's reported that its November sales rose 4% for the four-week fiscal month period ended Nov. 26.
Total sales were $152.1 million, up from $146.1 million in November 2010. Comparable-store sales for the month rose 1.5% on top of an increase of 4.7% in the same period last year, Fred's said.
During the month, Fred's opened five new express pharmacy locations.
"Lapping very strong sales in the year-earlier period and facing an extremely aggressive competitive environment, we are pleased with our overall sales performance for November," Fred's CEO Bruce Efird said. "Comparable-store sales growth, driven largely by increased customer traffic, continues to reflect the success of our sales and marketing initiatives. Our best-performing Core 5 departments during the month included pet, household supplies, and pharmacy. As Christmas nears, our stores are well stocked and our customers will find great values and strong merchandise selections to finalize their holiday shopping."