Content about MEMPHIS

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 13, 2013

Butterball has entered a licensing agreement with Monogram Food Solutions, LLC, a Memphis, Tenn.-based manufacturer of processed meat, to launch a new line of turkey meat snacks featuring jerky, turkey bacon jerky, turkey nuggets and turkey snack sticks.

MEMPHIS, Tenn. — Butterball has entered a licensing agreement with Monogram Food Solutions, LLC, a Memphis, Tenn.-based manufacturer of processed meat, to launch a new line of turkey meat snacks featuring jerky, turkey bacon jerky, turkey nuggets and turkey snack sticks.

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 26, 2013

A state Senate committee in Tennessee is looking into the possibility of allowing supermarkets to sell wine, according to published reports.

NEW YORK — A state Senate committee in Tennessee is looking into the possibility of allowing supermarkets to sell wine, according to published reports.

The Memphis, Tenn., Commercial Appeal reported that the proposed law would be subject to approval in local referendums.

Supporters of the bill cited convenience, while opponents — including liquor store owners — said it would be detrimental to public health, safety and the economy, criticizing the legislation as driven by "big national chains" and harmful to locally owned businesses.

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. 

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.

December 27, 2012

A national drug shortage has been linked to a higher rate of relapse among children, teenagers and young adults with Hodgkin lymphoma enrolled in a national clinical trial, according to research led by St. Jude Children's Hospital.

MEMPHIS  — A national drug shortage has been linked to a higher rate of relapse among children, teenagers and young adults with Hodgkin lymphoma enrolled in a national clinical trial, according to research led by St. Jude Children's Hospital.

The study found the estimated two-year cancer-free survival for patients enrolled in the study fell from 88% to 75% after the drug cyclophosphamide was substituted for mechlorethamine for treatment of patients with intermeidiate- or high-risk Hodgkin lymphoma. The study was launched before the drug shortages began.

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 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.

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."

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 7, 2012

The Walmart Foundation, alongside six women's foundations — The Washington Area Women's Foundation, The New York Women's Foundation, Women's Fund of Mississippi, Women's Foundation of Minnesota, Women's Foundation for a Greater Memphis and the Women's Funding Network — has launched the Partnership for Women's Prosperity.

BENTONVILLE, Ark. — The Walmart Foundation, alongside six women's foundations — The Washington Area Women's Foundation, The New York Women's Foundation, Women's Fund of Mississippi, Women's Foundation of Minnesota, Women's Foundation for a Greater Memphis and the Women's Funding Network — has launched the Partnership for Women's Prosperity.

May 16, 2012

Earlier this year, Prestige Brands closed the deal on its acquisition of the analgesic Goody’s Powder. And while Goody’s may be characterized as a legacy brand, it is in no way a tired brand — for the 52 weeks ended April 15, sales of Goody’s Powder were up 1.2% to $15.8 million.

MEMPHIS, Tenn. — Earlier this year, Prestige Brands closed the deal on its acquisition of the analgesic Goody’s Powder. And while Goody’s may be characterized as a legacy brand, it is in no way a tired brand — for the 52 weeks ended April 15, sales of Goody’s Powder were up 1.2% to $15.8 million. That’s only the starting line for what will be a new brand race across the analgesics aisle.


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 15, 2012

The Coppertone Solar Research Center has announced the launch of two new product lines: Coppertone Sport Pro Series and Coppertone Wet ‘n Clear.

MEMPHIS, Tenn. — The Coppertone Solar Research Center has announced the launch of two new product lines: Coppertone Sport Pro Series and Coppertone Wet ‘n Clear.

The new Coppertone Sport Pro Series sunscreens are designed to help protect sports enthusiasts from the damaging effects of the sun, while not compromising skin’s natural hydration. The new Coppertone Wet ‘n Clear line offers families sun protection that cuts through water without needing to towel dry, while also helping to keep skin moisturized.

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 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.