Fred's (FRED) Comps Rise 1.2% in July; Guides Q2 EPS Above Views

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Fred's, Inc. (Nasdaq: FRED) today reported sales for the four-week fiscal month, second quarter and six-month period ended July 28, 2012.

Fred's total sales for the month increased 5% to $136.7 million from $129.7 million in July 2011. Comparable store sales for the month increased 1.2% versus a decrease of 0.5% in the same period last year.

Fred's now expects that earnings per diluted share for the second quarter of 2012 will be in the range of $0.17 to $0.19. The Street sees EPS of $0.15.

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