Content about Fred's

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.

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.

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.

MEMPHIS, Tenn. — Back-to-school and improved pharmacy performance lifted Fred's sales for the month of August, the company reported Thursday.

Fred's total sales for the four weeks ended Aug. 27 increased 3% to $137.8 million. Comparable store sales for the month increased 1.6% on top of an increase of 3.6% for the same period last year.

Fred's total sales for the year-to-date period increased 2% to $1.1 billion. On a comparable store basis, year-to-date sales increased 0.6% versus an increase of 2.6% for the same period last year.

MEMPHIS, Tenn. — Fred's on Thursday reported sales of $452.7 million, up 1% compared with the year-ago period, for the second quarter ended July 30. On a comparable-store basis, second-quarter sales decreased 0.4% versus an increase of 2.5% in the same period last year.

"July's sales performance was consistent with the first two months of the quarter as external economic factors, including high unemployment and reductions in government aid, continued to have a negative impact throughout the Southeast," stated Bruce Efird, Fred's CEO.

MEMPHIS, Tenn. — Fred's on Thursday reported sales of $143.5 million for the four weeks ended May 28, up 1%. Comparable-store sales for the month rose 0.2%, compared with an increase of 3.5% in the same period last year.

MEMPHIS, Tenn. — Fred's tallied $141.8 million in sales, representing an increase of 3% for the four weeks ended April 30, the retailer reported Thursday.

Comparable-store sales for the month rose 1.8%, versus an increase of 0.6% in the same period last year. Likewise, Fred's total sales for the first three months of fiscal 2011 increased 3% to $484.4 million.

MEMPHIS — Net income for Fred's jumped 49% during the fourth quarter to $8.6 million, or 22 cents per diluted share, compared with the year-ago period.

Despite the challenging retail climate and concerns that rising gas prices will take a toll on retailers' financial well-being, Fred's noted it will continue to forge ahead with its plans.

MEMPHIS — Fred's on Wednesday reported a fiscal 2010 sales increase of 3% to $1.8 billion for the year ended Jan. 29. Comparable sales were up 2.2%, versus an increase of 0.4% in the prior year.

January comp increases of 2.1%, however, fell well short of the 3.9% analyst consensus tallied by Thomson Reuters, a factor that may have had more influence in driving the company’s stock down 37 cents to $13.31 on Wednesday’s trading. Winter weather played a role in those not-as-good-as-expected results, the retailer reported.

CINCINNATI — Looking to optimize pricing and promotions, Fred's on Wednesday announced that it will implement KSS Retail's PriceStrat solution in its more than 670 stores and 300 pharmacies throughout 15 states.

PriceStrat is an integrative software in which retailers can manage both regular and promotional pricing, and enables them to model what-if pricing scenarios for store products, facilitating pricing decisions that are more timely and effective in optimizing sales and value for customers, KSS Retail said.