Fred's (FRED) Misses Q3 EPS by 9c

Fred's (NASDAQ: FRED) reported Q3 EPS of ($0.27), ex-items, $0.09 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $516.6 million versus the consensus estimate of $514.27 million.

Comparable store sales for the third quarter declined 3.8% versus an increase of 2.7% in the third quarter last year.

Michael Bloom, Chief Executive Officer, commented, "We continue to address and improve several key areas of our business, including a heightened focus on positioning Fred's as a leading healthcare-focused company. These ongoing initiatives are designed to strengthen all aspects of our operations as we seek to create a more dynamic platform to grow our business while maximizing returns on invested capital and, in turn, shareholder value. We look forward to providing additional updates in the months and quarters ahead."

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

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