Content about Fred's

November 20, 2012

Fred's said third-quarter net income dropped 27% amid rising costs and declining same-store sales, as sales in its established stores dropped and its costs rose.

Memphis, Tenn. -- Fred's on Tuesday said third-quarter net income dropped 27% amid rising costs and declining same-store sales, as sales in its established stores dropped and its costs rose.

The company reported Tuesday that it earned $6.6 million in the three months through Oct. 27, compared with $9 million a year earlier.

Revenue rose 1% to $450.6 million. Same-store sales were down 2.5%.

General expenses rose 4% to $118.1 million, fueled in party by higher labor costs and new store opening costs.  

 

November 20, 2012

Fred's said third-quarter net income dropped 27% amid rising costs and declining same-store sales, as sales in its established stores dropped and its costs rose.

Memphis, Tenn. -- Fred's on Tuesday said third-quarter net income dropped 27% amid rising costs and declining same-store sales, as sales in its established stores dropped and its costs rose.

The company reported Tuesday that it earned $6.6 million in the three months through Oct. 27, compared with $9 million a year earlier.

Revenue rose 1% to $450.6 million. Same-store sales were down 2.5%.

General expenses rose 4% to $118.1 million, fueled in party by higher labor costs and new store opening costs.  

 

May 24, 2012

Fred's Inc. reported that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

Memphis, Tenn. -- Fred's Inc. reported Thursday that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

Revenue increased 3.3% to $500.5 million, edging Wall Street’s expected $500.3 million, but same-store sales dipped 0.4%.

The company opened three new regular stores and four express pharmacy stores during the quarter, as part of its plan to open 22 to 28 stores this year.
 

March 24, 2011

Fred's reported Thursday that net income for the quarter ended Jan. 29 rose 48% to $8.6 million, compared with $5.8 million in the year-ago period.

Memphis, Tenn. -- Fred's reported Thursday that net income for the quarter ended Jan. 29 rose 48% to $8.6 million, compared with $5.8 million in the year-ago period.

The discount retailer cited a better merchandise selection and store upgrades for the improved performance, which topped Wall Street expectations.

Revenue rose 3% to $485.6 million from $473.1 million, missing analysts’ forecast of $487.3 million in revenue. Same-store sales rose 2.3%.

November 23, 2010

Fred's said Tuesday that its third-quarter net income surged 56%, partly because of its improved merchandise mix and remodeled and upgraded stores.

Memphis -- Fred's said Tuesday that its third-quarter net income surged 56%, partly because of its improved merchandise mix and remodeled and upgraded stores.

The discounter’s net iFred's said Tuesday that its third-quarter net income surged 56%, partly because of its improved merchandise mix and remodeled and upgraded stores.ncome rose to $7.8 million for the period ended Oct. 30, compared with $5 million in the year ago period. The performance topped analysts’ estimates.

May 25, 2010

Fred's reported that its first-quarter total sales for its first quarter increased 3% to $471.6...

May 25, 2010

Fred's said Wednesday that its first-quarter profit slipped 4% even as sales climbed....

March 24, 2010

Fred's reported its fourth-quarter net income totaled $5.7 million, an increase from $2.3 million in...

August 27, 2008

Fred's Inc. said Thursday its second-quarter profit fell 66%, hurt by the cost of closing...

February 7, 2008

Fred's Inc. will close 75 stores this year as part of a new cost-cutting campaign...

February 7, 2008

Memphis, Tenn. Fred's Inc. will close 75 stores this year as part of a new...