Fred's (FRED) Tops Q2 EPS by 3c; Offers H216 Outlook
- Top 10 News for 10/24 - 10/28: AT&T (T), Time Warner Make it Official; Margins Hamper Apple's Q4; Mergers Aplenty
- Wall St. falls as FBI to review more Clinton emails
- Clinton email problem resurfaces as FBI announces review
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ruth's Hospitality Group (RUTH) Tops Q3 EPS by 1c; Comps Rose 2.1%
- Chevron (CVX) Tops Q3 EPS by 31c
- AbbVie (ABBV) Tops Q3 EPS by 1c; Boosts FY16 EPS Outlook
Create E-mail Alert Related CategoriesEarnings, Guidance, Retail Sales
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!