Fred's (FRED) Tops Q2 EPS by 3c; Offers H216 Outlook

August 30, 2016 7:46 AM EDT

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Fred's (NASDAQ: FRED) reported Q2 EPS of ($0.18), $0.03 better than the analyst estimate of ($0.21). Revenue for the quarter came in at $529.5 million versus the consensus estimate of $536.43 million.

Comparable store sales for the second quarter declined 2.0% versus an increase of 0.9% in the second quarter last year, while comparable store sales for the first half of 2016 decreased 0.6% versus an increase of 0.7% in the prior-year period.

The Company provides the following guidance for the second half of 2016, all excluding any further impact from future expenses related to the 2015 data security incident:

  • Based on recent sales trends and our near-term outlook, we expect changes in both total sales and comparable store sales to range from negative 1% to a positive 1% for the second half of the year.
  • As we initiate additional competitive strategies, we may see a loss per diluted share for the second half of the year in the range of ($0.18) to ($0.23), with the third quarter loss deeper than the fourth quarter loss.
  • In the second half of the year, adjusted EBITDA, which excludes the impact of LIFO, stock-based compensation and non-recurring items, if any, is expected to be in the range of $18 million to $21 million dollars versus an adjusted EBITDA of $34.3 million dollars in the prior-year 2nd half.

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

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