Fred's hits new mark in 3Q sales, earnings

Memphis, TN — Discount general merchandiser Fred's increased net income over 40 percent and saw double-digit same-store sales growth for the third quarter ended Nov. 2.

Net income for the third quarter rose 44.0 percent to $7.4 million from $5.1 million in the year-earlier period. The retailer's comp-store customer traffic increased 5.3 percent for the quarter, and the average transaction grew 5 percent to $16.76. Turns also improved 5.0 percent over last year, to $4.25, according to the company.

Total sales for the company rose 20.0 percent to $263.0 million against $219.0 million in the same period last year. Comp-store sales increased 10.3 percent for the quarter.

During the company's third quarter conference call yesterday, executives also discussed a major shift in the company's holiday marketing plan, as it moved its television ad schedule closer to Christmas. Most ads would run over a condensed seven- to eight-day period, instead of the previous 15-day period, executives said.

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.


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!