Content about MEMPHIS

October 6, 2011
Branded-to-generic shift impacts Fred's September comps

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.

September 6, 2011
Kroger beefs up presence in Memphis market with Schnucks acquisition

Tom Thumb, a wholly owned subsidiary of Kroger, on Friday announced its purchase of seven convenience stores in the Memphis area currently operated by Schnuck Markets.

MEMPHIS — The Memphis-based Kroger Delta Division, a division of Kroger on Friday announced its purchase of eight Memphis-area Schnucks stores. In addition, Kroger has acquired seven convenience stores that will be remodeled under the Kwik Shop banner and will be operated by Tom Thumb, a wholly-owned subsidiary of Kroger. The Schnucks grocery stores will be converted and re-opened under the Kroger name over the next few weeks.

September 1, 2011
BTS, pharmacy lift sales across Southeast discount chain

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

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.

August 25, 2011
Fred's Q2: Customer challenged; pharmacy significant POD

Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures.

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

August 11, 2011
Family Dollar marks 7,000th store opening

Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

MEMPHIS — Family Dollar opened its 7,000th store Thursday, further cementing the dollar-store channel as an area of rapid growth.

The store is located in Memphis, Tenn., and features a green building design and a spacious layout for an optimal shopping experience, the company reported.

To commemorate the opening of its 7,000th store in Memphis, Family Dollar completed the celebration with a $7,000 donation to the Mid-South Food Bank, along with cans of food donated by members of the local community.

August 4, 2011
Fred's Q2 sales up slightly; consumers buying mostly staples

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.

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.

July 7, 2011
With flat June sales, Fred's expects Q2 to be at low end of projected range

Fred's on Thursday reported sales of $179 million for the five weeks ended July 2, representing a relatively flat 0.1% increase, compared with the year-ago period.

MEMPHIS, Tenn. — Fred's on Thursday reported sales of $179 million for the five weeks ended July 2, representing a relatively flat 0.1% increase, compared with the year-ago period.

Comparable-store sales for the month dropped 0.7%, compared with an increase of 1.7% in the same period last year.

June 2, 2011
May sales for Fred's rise as comps fall short

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 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.

May 26, 2011
Fred's net income increases 16%

Fred's net income increased 16% to $9.5 million, or 24 cents per diluted share, compared with net income of $8.2 million, or 21 cents per diluted share in the year-earlier period.

MEMPHIS, Tenn. — Fred's net income increased 16% to $9.5 million, or 24 cents per diluted share, compared with net income of $8.2 million, or 21 cents per diluted share in the year-earlier period.

The retailer said that total sales rose 3% to $484.4 million from $471.6 million for the same period last year. For comps, Fred's reported a 1% rise on top of a 2.2% increase for the first quarter last year.

Fred's gross profit for first quarter 2011 increased 1% to $137.9 million from $136.9 million in the prior-year period.

May 5, 2011
April sales increase 3% for Fred's

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

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.

May 5, 2011
Tom's of Maine introduces Simply White, kicks off partnership with Sheryl Crow

Tom's of Maine, a maker of natural personal care products, has announced the launch of its new natural whitening toothpaste Simply White, and a partnership with Sheryl Crow's "100 Miles From Memphis" concert that kicks off on May 7.

KENNEBUNK, Maine — Tom's of Maine, a maker of natural personal care products, has announced the launch of its new natural whitening toothpaste Simply White, and a partnership with Sheryl Crow's "100 Miles From Memphis" concert that kicks off on May 7.

The project involves greening the concert tour, beautification events in key markets, a live chat with Crow on May 19 and an exclusive free song download via the Tom's of Maine Facebook page, while supplies last.

April 25, 2011
USA Drug gets back in growth mode

There’s nothing like a recession for focusing merchants on what matters most. For USA Drug, that meant concentrating on core markets, cutting costs and recharging its image for down-home value, neighborly service and a broadly merchandised front end focused on local consumer preferences.


April 7, 2011
Fred's monthly sales rise; moves ahead with 2011 operating plan

Fred's on Thursday reported a 3% increase in sales for the five weeks ended April 2, reaching $188.8 million.

MEMPHIS — Fred's on Thursday reported a 3% increase in sales for the five weeks ended April 2, reaching $188.8 million.

Comparable-store sales for the month rose 0.7%, versus an increase of 3.6% in the same period last year.

March 24, 2011
Fred's sees positive numbers for Q4, full year

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.

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.

March 3, 2011
Improving weather, tax returns benefit Fred’s

Fred's on Thursday posted a 2% increase in sales totaling $153.6 million for the four weeks ended Feb. 26. Comparable-store sales for the month rose 0.9% versus an increase of 2% in the same period last year.

MEMPHIS — Fred's on Thursday posted a 2% increase in sales totaling $153.6 million for the four weeks ended Feb. 26. Comparable-store sales for the month rose 0.9% versus an increase of 2% in the same period last year.

February 24, 2011
New clients, overall growth boosts Accredo's Q4

Sales at specialty pharmacy provider Accredo Health Group for the fourth quarter grew to $3 billion, a 21.3% increase over fourth quarter 2009, according to parent company Medco Health Solutions.

MEMPHIS — Sales at specialty pharmacy provider Accredo Health Group for the fourth quarter grew to $3 billion, a 21.3% increase over fourth quarter 2009, according to parent company Medco Health Solutions.

Sales for the year were $11.3 billion, a 19.1% increase over 2009. The company said the growth was the result of new clients and growth across the specialty business.

Growth in sales helped drive operating income for the quarter up by 30.7% to $109.9 million, while operating income for the full year increased by 22.7% to $438.2 million.

February 3, 2011
Fred’s falls short of January expectations

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.

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.

February 2, 2011
BC, Goody's get package updates

GlaxoSmithKline on Wednesday announced its support for the Wounded Warrior Project and Victory Junction, a camp for children with special needs, through its analgesic powder brands, BC and Goody’s.

MEMPHIS — GlaxoSmithKline on Wednesday announced its support for the Wounded Warrior Project and Victory Junction, a camp for children with special needs, through its analgesic powder brands, BC and Goody’s.

February 2, 2011
HBB rolls out Lazy Cakes

The words “chocolate brownie” and “dietary supplement” may seem contradictory, but one company has managed to bring the two together.

MEMPHIS — The words “chocolate brownie” and “dietary supplement” may seem contradictory, but one company has managed to bring the two together.

Memphis, Tenn.-based HBB is touting Lazy Cakes, a chocolate brownie packed with a blend of such herbs as passion flower, rose hip extract, valerian root extract and melatonin. Lazy Cakes are designed as a relaxation and sleep aid for people with busy, stressful lifestyles.

January 6, 2011
Fred's December sales strategy leads to 'modest' improvement

Fred's on Thursday posted a same-store sales lift of 0.2% for the five weeks ended Jan. 1, compared with an increase of 1.3% in the same period last year. Fred's total sales for the month increased 1% to $210.6 million.

MEMPHIS, Tenn. — Fred's on Thursday posted a same-store sales lift of 0.2% for the five weeks ended Jan. 1, compared with an increase of 1.3% in the same period last year. Fred's total sales for the month increased 1% to $210.6 million.

January 5, 2011
Anticipating customer needs makes USA a force in Goliath’s backyard

PINE BLUFF, Ark. — USA Drug grew up in Arkansas, home turf of Walmart. But to characterize the 140-unit drug store operator as David to Walmart’s Goliath doesn’t do justice to this feisty retail innovator, which wields plenty of clout across the nation’s midsection, under a variety of store banners.


November 30, 2010
November sales at Fred's exceed expectations

Total sales and comparable-store sales both rose during the month of November for Fred's, the chain announced Tuesday.

MEMPHIS — Total sales and comparable-store sales both rose during the month of November for Fred's, the chain announced Tuesday.

Fred's disclosed total sales for the four-week fiscal month ended Nov. 27 increased 6% to $146.3 million from the year-ago period, while comparable-store sales for the month rose 4.7% versus a decline of 3.3% during November 2009.

November 22, 2010
Fred's reports net income spike for Q3

Fred's third-quarter net income increased 55% to $7.8 million, or 20 cents per diluted share,...

November 3, 2010
Fred's discloses Q3 earnings

Fred's on Wednesday reported $434.9 million in sales, up 3% for the third quarter ended...

MEMPHIS, Tenn. Fred's on Wednesday reported $434.9 million in sales, up 3% for the third quarter ended Oct. 30. Comparable-store sales for the quarter increased 1.5%, compared with a 1% increase in the third quarter last year.

 

October 6, 2010
September sales up for Fred's

Fred's September sales increased 2% for the five-week fiscal month....