follow us

‘Qualified parties’ interested in Fred’s Inc.   

Memphis, Tenn. -- Saying it “has received multiple inquiries from qualified parties,” neighborhood discounter Fred’s has retained Merrill Lynch to review strategic alternatives, the 708-store chain said during its third quarter earnings report today.

Fred’s reported net income of $4.6 million, down 23% from a year ago, on sales of $419.9 million, up 3%.

In connection with its strategic and financial review, Fred’s also said it was temporarily suspending its stock repurchase program. Fred’s shares zoomed up more than 10% by midday on news of the review.

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today