March 26, 2015
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
March 25, 2015
MEMPHIS, Tenn. (March 25, 2015) – Fred’s, Inc. (NASDAQ: FRED) today announced several key management changes, including:
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
March 25, 2015
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
March 16, 2015
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
March 05, 2015
MEMPHIS, Tenn. (March 5, 2015) – Fred’s Inc. (NASDAQ: FRED) today reported sales for the four-week month of February, the first month of fiscal 2015, which ended February 28, 2015.
Fred’s total sales reflect the net closing of 62 locations in 2014 pursuant to the Company’s reconfiguration plan. Excluding last year’s February sales of $7.4 million from those closed locations, total sales increased 3% for the month. Fred’s total sales for February, not adjusting the closed stores, decreased 2% to $154.1 million from $157.4 million in February 2014. Comparable store sales for the month were approximately flat versus a decrease of 2.2% in February last year. read more
February 23, 2015
MEMPHIS, Tenn. (February 23, 2015) – Fred’s, Inc. (NASDAQ: FRED) today announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per share. The dividend is payable on March 16, 2015, to shareholders of record as of March 5, 2015. read more