Fred's meet expectations with September results

Retail Editor 2, October 10, 2013

Memphis - Thanks to positive trends in its general merchandise and pharmacy departments, Fred's posted sales and comp gains in September.

Total sales increased 4% to $177.3 million, and same-store sales were up 2.8%, "at the high end of our projected range," ceo Bruce Efird noted, versus a decline of 3.8% in the same period last year.

"Given the progress we achieved during the second quarter, we remain confident that third quarter earnings will be within the range previously forecasted," Efird added.

During the month, Fred's opened two stores and three Xpress pharmacy locations.

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