Content about Fred's

January 9, 2013

Medagate recently executed 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, through Fred's Super Dollar stores. DSN sat down with Medagate president Devin Wade to discuss the breadth of the program and his company's future plans.

AUDIO Q&A: DSN sat down with Medagate president Devin Wade to discuss its new program and the company's future plans. Medagate recently executed 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, through Fred's Super Dollar stores.

April 10, 2014

Fred's Super Dollar on Wednesday reported sales of $191.2 million, up 1%, for the five-week fiscal month of March ended April 5, 2014.

MEMPHIS, Tenn. — Fred's Super Dollar on Wednesday reported sales of $191.2 million, up 1%, for the five-week fiscal month of March ended April 5, 2014.

Comparable store sales for the month decreased 1.2% compared with a decrease of 3% in the prior-year period.

March 28, 2014

Fred's Super Dollar will be exiting a number of front-end categories — including footwear, televisions/home theater and select home furnishings — in an effort to expand seasonal, health, beauty, pharmacy and OTC, in line with reconfiguration plan strategies, Fred's CFO Jerry Shore told analysts Thursday.

MEMPHIS, Tenn. — Fred's Super Dollar will be exiting a number of front-end categories — including footwear, televisions/home theater and select home furnishings — in an effort to expand seasonal, health, beauty, pharmacy and OTC, in line with reconfiguration plan strategies, Fred's CFO Jerry Shore told analysts Thursday. 

March 27, 2014

Fred's Super Dollar on Thursday posted sales of $495.1 million for the fourth quarter ended Feb. 1, representing an increase of 0.5% on an adjusted basis (fiscal 2012 fourth quarter was 14 weeks vs. 13 weeks in fiscal 2013).

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday posted sales of $495.1 million for the fourth quarter ended Feb. 1, representing an increase of 0.5% on an adjusted basis (fiscal 2012 fourth quarter was 14 weeks vs. 13 weeks in fiscal 2013). Total sales for fiscal 2013 totaled $1.9 billion, representing a 1.4% on an adjusted basis.  

March 6, 2014

Fred's Super Dollar on Thursday posted $157.5 million in sales, representing a decline of 1%, for the four weeks ended March 1.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday posted $157.5 million in sales, representing a decline of 1%, for the four weeks ended March 1. Comparable store sales for the month decreased 2.2% compared with a decrease of 1.5% in the prior-year period.

“In the pharmacy department, we will continue to accelerate new pharmacy acquisitions and focus on our plan for EIRIS Health Services, Fred's specialty pharmacy unit, which is experiencing solid script and sales growth in this fast-expanding segment of the pharmacy industry," noted Bruce Efird, Fred's CEO.

February 28, 2014

Fred’s Super Dollar has visited CVS Caremark, Dollar General and Walgreens seeking bids for its Southeastern chain of discount stores, according to a report published Friday by Bloomberg News.

NEW YORK — Fred’s Super Dollar has visited CVS Caremark, Dollar General and Walgreens seeking bids for its Southeastern chain of discount stores, according to a report published Friday by Bloomberg News

Buyout firms including Miami-based H.I.G. Capital also were contacted, the report added.

February 6, 2014

Fred's Super Dollar on Thursday reported $134.8 million in sales for the four weeks ended Feb. 1, representing a 1.1% decline on an adjusted basis.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported $134.8 million in sales for the four weeks ended Feb. 1, representing a 1.1% decline on an adjusted basis. Total sales for the fiscal year totaled $1.9 billion, representing an increase of 1.4% on an adjusted basis. 

On an adjusted basis, comparable store sales decreased 1.8% in January versus flat comparable store sales in the year-earlier period. Also on an adjusted basis, comparable store sales for fiscal 2013 increased 0.6% versus a decrease of 1.4% for fiscal 2012. 

January 10, 2014

Regional discount retailer Fred’s is making some big changes to its merchandising and operations groups to begin 2014 and has retained several firms to review strategic opportunities.

Regional discount retailer Fred’s is making some big changes to its merchandising and operations groups to begin 2014 and has retained several firms to review strategic opportunities.

December 5, 2013

Fred's Super Dollar on Wednesday reported a 1% increase in total sales, to $151.5 million, for the four weeks ended Nov. 30. Comparable-store sales for the month were flat versus a decline of 3.6% in the same period last year.

MEMPHIS, Tenn. — Fred's Super Dollar on Wednesday reported a 1% increase in total sales, to $151.5 million, for the four weeks ended Nov. 30. Comparable-store sales for the month were flat versus a decline of 3.6% in the same period last year.

"The environment was as competitive as expected, and the later Thanksgiving holiday had a negative impact on sales," noted Bruce Efird, Fred's CEO. "As anticipated, our pharmacy department continued to perform well during the month," he said.  

November 26, 2013

Fred's Super Dollar on Tuesday credited an 8% lift in pharmacy department sales as a key factor accounting for the company's third-quarter success.

MEMPHIS, Tenn. — Fred's Super Dollar on Tuesday credited an 8% lift in pharmacy department sales as a key factor accounting for the company's third-quarter success. "The investments in pharmacy growth have been validated by the 8% increase in its total department sales," said Bruce Efird, Fred's CEO. "Notably, our pharmacy department accounted for more than 40% of total company sales during the quarter.

November 7, 2013

Fred's Super Dollar on Thursday reported sales gains for the four weeks ended Nov. 2, reaching $143.4 million on 2% growth.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported sales gains for the four weeks ended Nov. 2, reaching $143.4 million on 2% growth. Comparable store sales for the month increased 0.8% versus a decline of 0.8% in the same period last year.

October 10, 2013

Fred's sales increased to $177.3 million in September, the discount store chain said Thursday.

MEMPHIS, Tenn. – Fred's sales increased to $177.3 million in September, the discount store chain said Thursday.

The Memphis, Tenn.-based company, which operates 702 stores in the South, said the monthly sales figures represented a 4% increase over September 2012. Same-store sales increased by 2.8%, compared with a 3.8% decrease last year.

For the year to date, sales were $1.3 billion, a 1% increase over $1.3 billion during the same period last year. Same-store sales increased by 0.8%, compared with a 1.2% decrease last year.

September 5, 2013

Fred's Super Dollar posted sales of $140 million for the four weeks ended Aug. 31. Sales were $139.9 million in the year-ago period.

MEMPHIS, Tenn. — Fred's Super Dollar on Wednesday posted sales of $140 million for the four weeks ended Aug. 31. Sales were $139.9 million in the year-ago period. 

Comparable-store sales for the month were approximately flat versus a decline of 2.8% in the same period last year.

"Sales were adversely affected by an unfavorable calendar shift, with no first of the month in fiscal August," stated Bruce Efird, Fred's CEO. "Despite this shift, several departments performed well in August, most notably pharmacy," he said. 

August 29, 2013

Pharmacy and hardware/auto were two significant contributing factors behind Fred's Super Dollar second-quarter sales increase of 2%, the company reported.

MEMPHIS, Tenn. — Pharmacy and hardware/auto were two significant contributing factors behind Fred's Super Dollar second-quarter sales increase of 2%, the company reported. "[We] were pleased with the progress of the first phase of our reconfiguration plan as the penetration of stores with pharmacies increased from 50% to 52%, and we experienced strong comparable sales performance in our expanded Hometown Auto & Hardware departments," Fred's CEO Bruce Efird stated. 

August 22, 2013

Fred's Super Dollar on Wednesday announced that its board has declared a quarterly cash dividend of $0.06 per share.

MEMPHIS, Tenn. — Fred's Super Dollar on Wednesday announced that its board has declared a quarterly cash dividend of $0.06 per share. 

The dividend is payable on Sept. 16, 2013, to shareholders of record as of Sept. 2, 2013.

Fred's operates 697 discount general merchandise stores, including 21 franchised Fred's stores, in the southeastern United States.

August 8, 2013

Fred's posted a boost in sales for both the month of July and the second quarter, and noted that pharmacy experienced both comparable sales and scripts increases for the second-consecutive month.

MEMPHIS, Tenn. — Fred's posted a boost in sales for both the month of July and the second quarter, and noted that pharmacy experienced both comparable sales and scripts increases for the second-consecutive month.

Fred's total sales for the month increased 4% to $142.2 million from $136.8 million in the year-ago period. Same-store sales for the month increased 2.5% on top of an increase of 1.2% in the same period last year.

July 11, 2013

Fred's Super Dollar posted $187.7 million in sales for the five weeks ended July 6, up 3% as compared to the year-ago period. Comparable-store sales for the month increased 4.5%.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday posted $187.7 million in sales for the five weeks ended July 6, up 3% as compared to the year-ago period. Comparable-store sales for the month increased 4.5%.

June 6, 2013

Fred's Super Dollar posted sales of $152.4 million, up 0.2%, for the four weeks ended June 1.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday posted sales of $152.4 million, up 0.2%, for the four weeks ended June 1. Comparable store sales for the month decreased 0.5% compared with an increase of 1.3% in the same period last year.

May 21, 2013

Fred's announced that its board of directors has declared a quarterly cash dividend of $0.06 per share.

MEMPHIS, Tenn. — Fred's Inc. today announced that its board of directors has declared a quarterly cash dividend of $0.06 per share.

The dividend is payable on June 17, 2013, to shareholders of record as of June 3, 2013.

Fred's Inc. operates 715 discount general merchandise stores, including 21 franchised Fred's stores, in the southeastern United States. For more information about the company, visit Fred's website at www.fredsinc.com.

May 8, 2013

Fred's Super Dollar posted a slight 0.2% sales gain for its first quarter ended May 4, to $501.4 million.

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.

April 11, 2013

Fred's Super Dollar reported total sales of $190.4 million for the five weeks ended April 6, down 2% from the comparable year-ago period.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported total sales of $190.4 million for the five weeks ended April 6, down 2% from the comparable year-ago period. 

Comparable store sales for the month decreased 3% compared with flat store sales in the same period last year.

March 28, 2013

Fred's will be looking to extend its pharmacy penetration to as high as 70% of all stores in the next three years.

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.

March 7, 2013

Fred's Super Dollar reported total sales of $159.2 million for the four weeks ended March 2, up some $200,000 from the corresponding year-ago period.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported total sales of $159.2 million for the four weeks ended March 2, up some $200,000 from the corresponding year-ago period. Comparable store sales for the month declined 1.5%. 

February 25, 2013

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.

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.

February 7, 2013

Fred's Super Dollar reported sales for the five-weeks ended Feb. 2 were up 31% to $173.6 million. Comparable store sales were up 28.6%.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported sales for the five-weeks ended Feb. 2 were up 31% to $173.6 million. Comparable store sales were up 28.6%. 

On an adjusted basis, which eliminates the one week ended Feb. 2, sales were up 2% and same-store sales were flat, Fred's added.