Content about Fred's

MEMPHIS, Tenn. — Fred's Super Dollar on Tuesday posted a slight 0.2% sales gain for its first quarter ended May 4, to $501.4 million. Comparable store-sales for the quarter were down 1.3%. 

For the month of April (four weeks ended May 4), Fred's total sales increased 3% to $152.2 million. Comparable store sales for the month increased 1.2% comparatively.

MEMPHIS, Tenn. — The consumer's wallet isn't the only headwind blowing out of a still-struggling economy. Higher operating costs have also helped to undercut Fred's Super Dollar performance in the past year, Fred's CEO Bruce Efird explained to analysts Thursday morning.

MIDDLETON, Tenn. — Fred's Super Dollar is piloting a new store concept called GetWell Drug and Dollar that features a heavy focus on pharmacy, OTC and value-oriented convenience basics. The 8,000-sq.-ft. locations, half the size of a typical Fred's, will field some 7,500 front-end SKUs, 30% of which will be comprised of health-and-wellness items.

MEMPHIS, Tenn. — Fred's on Thursday reported a 1% sales decline to $209.9 million for the five-week fiscal month ended Dec. 29. Comparable store sales for the month decreased 4.2% compared with a decline of 0.4% in the same period last year.

REDWOOD CITY, Ga. — Medagate on Thursday announced the first implementation of its 2.0 restricted-spend platform, which encourages eligible consumers to make healthy living choices by purchasing qualified items at the point of sale. Fred's Super Dollar stores in North Carolina and Georgia will be the first stores to implement the new capabilities. 

MEMPHIS, Tenn. — Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results. "During the third quarter we continue to see generally weak economic conditions throughout the Southeast which are clearly weighing heavily on our customers and influencing how they shop for their basic needs," he said. "It's more evident that things are not getting better for our core customers." 

MEMPHIS, Tenn. — Fred's reported that its September sales rose 1% to $170.9 million, compared with the year-ago period. Comparable-store sales for the month, however, declined 3.8%, compared with an increase of 1.1% in September 2011.

NEW YORK 

MEMPHIS — Fred's reported that net income for the second quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.

Sales rose 4% to $470.8 million from $452.7 million, and same-store sales dipped 1%.

Profit results missed Wall Street expectations, and the discounter has lowered its full-year earnings forecast.

MEMPHIS — June sales for Fred's rose 2% to $182.6 million, compared with the year-ago period, the retailer said Thursday.

Comparable-store sales, however, saw a decline of 4%, compared with a decrease of 0.7% in the same period last year. Fred's CEO Bruce Efird said the drop primarily was due to branded-to-generic shift in pharmacy sales that now are under way.

MEMPHIS — Former Accredo Health Group president has been elected to serve on Fred's board of directors.

Fred's said Steven Fitzpatrick will be presented as one of the director nominees at the discount retailer's 2012 annual meeting, which will be held later this summer.

MEMPHIS, Tenn. — Fred's on Thursday reported total sales of $194 million for the five weeks ended March 31, up 3% from the year-ago period. Comparable-store sales for the month were flat versus an increase of 0.7% in the same period last year.