Fred's, Inc. (FRED) Misses Q1 EPS by 3c; Comps Fell 1.9%; Guides Q2, FY14 EPS

Fred's, Inc. (NASDAQ: FRED) reported Q1 EPS of $0.17, $0.03 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $498.3 million versus the consensus estimate of $501.64 million.

Comparable store sales for the quarter declined 1.9% versus a decrease of 1.3% for the first quarter last year.

Fred's sees Q2 2014 EPS of $0.04 - $0.09, versus the consensus of $0.08.

Fred's. sees FY2014 EPS of $0.60 - $0.68, versus the consensus of $0.70. Total sales are expected to increase in the range of 1% to 3%.

For earnings history and earnings-related data on Fred's, Inc. (FRED) click here.

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