Press Releases

Press Releases
Archive

2015 (11)

2014 (27)

2013 (24)

2012 (24)

2011 (21)

fred’s COMPLETES ACQUISITION OF REEVES-SAIN DRUG STORE AND ENTRUSTRx SPECIALTY PHARMACY

MEMPHIS, Tenn. (April 20, 2015) – Fred’s, Inc. (NASDAQ: FRED) today announced that it has completed the previously reported $66 million acquisition of Reeves-Sain Drug Store, Inc., a private specialty and retail pharmacy company, including its EntrustRx specialty pharmacy operation.

EntrustRx, which is licensed in all 50 states, has a strong regional presence in the Southeast, serviced from facilities in Spring Hill, Tennessee and Columbus, Mississippi. It dispenses specialty pharmaceuticals to treat complex conditions and diseases that typically require ongoing support for extensive periods of time, with main therapy lines that include hepatitis C, oncology, growth hormones, multiple sclerosis, and rheumatology. The single Reeves-Sain retail pharmacy operates in Murfreesboro, Tennessee.  read more

fred’s REPORTS HIGHER MARCH SALES

MEMPHIS, Tenn. (April 9, 2015) – Fred’s Inc. (NASDAQ: FRED) today reported sales for the five-week month of March and the two-month year-to-date period ended April 4, 2015.

Fred’s total sales for March increased 0.3% to $191.7 million from $191.0 million in March 2014. Fred’s total sales for the prior year reflected the net closing of 62 locations in 2014 pursuant to the Company’s reconfiguration plan. Excluding last year’s March sales of $8.4 million from those closed locations, total sales increased 5% for the month. Comparable store sales for the month increased 1.9% compared with a decrease of 1.2% in March of last year. read more

fred’s REPORTS FOURTH QUARTER AND FULL FISCAL YEAR 2014 RESULTS

MEMPHIS, Tenn. (March 26, 2015) – Fred’s, Inc. (NASDAQ: FRED) today reported financial results for the fourth quarter and year ended January 31, 2015.

For the fourth quarter ended January 31, 2015, Fred’s net loss totaled $8.2 million or ($0.22) per diluted share compared with net income of $4.0 million or $0.11 per diluted share in the year- earlier period. Adjusted net income (a non-GAAP financial measure) for the fourth quarter of 2014 was $0.7 million or $0.02 per diluted share, which excludes non-operational charges in the fourth quarter of 2014 that totaled $15.0 million pre-tax or ($0.24) per share. See the reconciliation of non-GAAP financial measures later in this release. read more

fred’s ANNOUNCES KEY MANAGEMENT ADDITIONS AND CHANGES

MEMPHIS, Tenn. (March 25, 2015) – Fred’s, Inc. (NASDAQ: FRED) today announced several key management changes, including:

  • Bryan Pugh named Chief Merchandising and Marketing Officer (CMMO).
  • Craig Barnes promoted to Executive Vice President of Supply Chain, Global and Domestic
    Logistics.
  • Mike Holligan promoted to Executive Vice President of Store Operations.

Commenting on the announcement, Jerry A. Shore, Chief Executive Officer, said, “Working together with Mike Bloom, our President and Chief Operating Officer, we are now assembling a solid, experienced management team that complements our pharmacy team to drive growth in market share and improve profitability. We are very excited about how this team has come together and the opportunities ahead for Fred’s.” read more

fred’s TO ACQUIRE ENTRUSTRx SPECIALTY PHARMACY

MEMPHIS, Tenn. (March 25, 2015) – Fred’s, Inc. (NASDAQ: FRED) today announced that it has signed an agreement to acquire Reeves-Sain Drug Store, Inc., a private specialty and retail pharmacy company based in the greater Nashville, Tennessee area. The acquisition includes both EntrustRx, a specialty pharmacy operation that has a strong regional presence in the Southeast serviced from facilities in Spring Hill, Tennessee and Columbus, Mississippi, as well as the single Reeves-Sain retail pharmacy in Murfreesboro, Tennessee. read more

fred’s ANNOUNCES FOURTH QUARTER AND YEAR-END 2014 CONFERENCE CALL WEBCAST

MEMPHIS, Tenn. (March 16, 2015) – Fred’s, Inc. (NASDAQ: FRED) today announced that it will provide an online Web simulcast of its fourth quarter and year-end 2014 earnings conference call on Thursday, March 26, 2015. The Company’s results for the fourth quarter and year ended January 31, 2015, will be released earlier that morning. read more

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