‘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.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!