Content about Fred's

January 3, 2013

Fred's reported a 1% sales decline to $209.9 million for the five-week fiscal month ended Dec. 29.

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.

November 29, 2012

Fred's on Thurday reported a total sales decline of 1% to $150.4 million for the four weeks ended Nov. 24.

 MEMPHIS, Tenn. — Fred's on Thurday reported a total sales decline of 1% to $150.4 million for the four weeks ended Nov. 24. Comparable store sales for the month declined 3.6% versus an increase of 1.5% in the same period last year.

November 29, 2012

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.

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. 

November 21, 2012

During Fred's third-quarter earnings call, the company told analysts it was testing a new, smaller format drug-dollar store concept and that its partnership with Diplomat was creating new clinical capabilities for the chain, which still sees pharmacy as a major growth opportunity.

The more Memphis-area patients continue singing those Delta blues, the more they're going to be scuffling through Fred's doors in their blue suede shoes. Effectively serving that economically-challenged patient is just one reason why Fred's third-quarter call this week should resonate across the industry. Because Fred's is in pursuit of two trends that are critical to its future — a specialty pharmacy solution that gains Fred's entree into the only growth-game in pharmacy, and an answer to its big-box competitors with a small-footprint, dollar-store/pharmacy hybrid.

November 20, 2012

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.

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." 

November 1, 2012

Fred's Super Dollar on Thursday reported an increase of 1% in total sales to $450.6 million for its third quarter ended Oct. 27.

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday reported an increase of 1% in total sales to $450.6 million for its third quarter ended Oct. 27. Comparable store sales for the quarter declined 2.5% compared with an increase of 1.5% in the third quarter of 2011.

October 4, 2012

Fred's reported that its September sales rose 1% to $170.9 million, compared with the year-ago period.

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.

September 17, 2012

Fred's on Friday launched a holiday layaway plan featuring no fees and a down payment of only $1.

MEMPHIS — Fred's on Friday launched a holiday layaway plan featuring no fees and a down payment of only $1.

"Fred’s realizes that the current economy presents difficult challenges to its customers and Fred's wants to offer as much assistance as it can," Fred's SVP sales and marketing Dave Mueller said. "That’s why we came up with a layaway plan that — with just one dollar down and absolutely no fees — is unlike any others and will stretch shoppers’ dollars during a time when it will be most welcome."

September 4, 2012

American Express and Fred's on Friday announced the launch of a special three-month American Express Cardmember offer beginning in September to celebrate the recent card acceptance agreement between the two companies.

NEW YORK 

August 30, 2012

Fred's on Thursday posted $139.9 million in sales, up 2.8%, for the four weeks ended Aug. 25.

MEMPHIS, Tenn. — Fred's on Thursday posted $139.9 million in sales, up 2.8%, for the four weeks ended Aug. 25. Comparable-store sales for the month decreased 2.8%, versus an increase of 1.6% in the same period last year.

August 28, 2012

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.

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.

August 1, 2012

Fred's on Wednesday posted a 5% increase in total sales for the four-week period ended July 28 to $136.7 million, the discount retailer announced.

MEMPHIS, Tenn. — Fred's on Wednesday posted a 5% increase in total sales for the four-week period ended July 28 to $136.7 million, the discount retailer announced.

Comparable-store sales for the month increased 1.2%, versus a decrease of 0.5% in the same period last year.

July 5, 2012

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

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.

May 30, 2012

Fred's experienced a boost in monthly and comparable-store sales during the month of May, the retailer said Tuesday.

MEMPHIS — Fred's experienced a boost in monthly and comparable-store sales during the month of May, the retailer said Tuesday.

Total sales for the four-week period ended May 26 rose 6% to $152.1 million, compared with May 2011, while comps rose 1.3%, compared with an increase of 0.2% in the same period last year. During the period, Fred's opened one new store.

May 29, 2012

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

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.

May 3, 2012

Fred's on Thursday reported total sales of $141.8 million for the five weeks ended April 28, up 4% from the year-ago period.

MEMPHIS, Tenn. — Fred's on Thursday reported total sales of $141.8 million for the five weeks ended April 28, up 4% from the year-ago period. Comparable-store sales for the month declined 0.3%, compared with an increase of 1.8% in the same period last year.

April 5, 2012

Fred's on Thursday reported total sales of $194 million for the five weeks ended March 31, up 3% from the year-ago period.

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.

March 21, 2012

Regional discounter Fred's made good on its promise of a year ago to further expand a new merchandising initiative, but an intensely competitive market made fourth-quarter sales tough to come by.

MEMPHIS — Regional discounter Fred's made good on its promise of a year ago to further expand a new merchandising initiative, but an intensely competitive market made fourth-quarter sales tough to come by.

February 16, 2012

Fred's on Thursday announced an increase in the company's quarterly cash dividend by 20% to 6 cents per share, and an increase in the company's stock repurchase program to an additional 3.6 million shares, or 10% of the currently outstanding shares.

MEMPHIS, Tenn. — Fred's on Thursday announced an increase in the company's quarterly cash dividend by 20% to 6 cents per share, and an increase in the company's stock repurchase program to an additional 3.6 million shares, or 10% of the currently outstanding shares.

February 2, 2012

Fred's on Thursday said January sales rose 3% to $132.4 million, compared with the year-ago period.

MEMPHIS — Fred's on Thursday said January sales rose 3% to $132.4 million, compared with the year-ago period.

Comparable-store sales for the retailer, however, declined 0.8%, compared with an increase of 2.1% in the same period last year.

December 21, 2011

The proposed acquisition of Winn-Dixie by fellow Southeast grocer Bi-Lo would create a regional pharmacy operator with almost 500 pharmacy operations and pharmacy revenue of around $780 million, according to Drug Store News projections.

GREENVILLE, S.C. — The proposed acquisition of Winn-Dixie by fellow Southeast grocer Bi-Lo would create a regional pharmacy operator with almost 500 pharmacy operations and pharmacy revenue of around $780 million, according to Drug Store News projections.

That would make the Bi-Lo/Winn-Dixie combination No. 24 on Drug Store News' PoweRx50 — a list of the top 50 pharmacy retailers operating in the U.S. — falling in just behind Albertsons LLC (which posted $787 million in pharmacy revenue in 2010) and well ahead of Fred's ($628 million).

December 1, 2011

Fred's on Thursday reported sales of $152.1 million, up 4%, for the four-week fiscal month ended Nov. 26. Comparable store sales for the month rose 1.5% on top of an increase of 4.7% in the same period last year.

MEMPHIS, Tenn. — Fred's on Thursday reported sales of $152.1 million, up 4%, for the four-week fiscal month ended Nov. 26. Comparable store sales for the month rose 1.5% on top of an increase of 4.7% in the same period last year.

December 1, 2011

Fred's reported that its November sales rose 4% for the four-week fiscal month period ended Nov. 26.

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.

November 22, 2011

Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

October 6, 2011

Fred’s posted a 1% gain in sales, to $17.5 million, for the five weeks ended Oct. 1.

MEMPHIS, Tenn. — Fred’s posted a 1% gain in sales, to $17.5 million, for the five weeks ended Oct. 1.

Comparable store sales for September increased 1.1%; comparable store sales were flat in the year-earlier month. The September total sales comparison was adversely affected by store-closing sales that occurred last year during the month.