Deutsche Bank Downgrades Fred's Inc. (FRED) to Sell
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Fred's Reports July Sales
August 4, 2016 7:45 AM EDTMEMPHIS, Tenn.--(BUSINESS WIRE)-- Fred's Inc. (NASDAQ: FRED) today reported sales for the four-week fiscal month of July, which ended on July 30, 2016.
Fred's total sales for the month decreased 7.0% to $154.0 million from $165.6 million in July 2015. Comparable store sales for the month declined 4.6% compared with an increase of 0.7% in the year-earlier period.
Fred's total sales for the second quarter of fiscal 2016 decreased 3.4% to $527.7 million from $546.1 million for the same period last year. On a comparable store basis, second quarter sales decreased 2.0% versus an increase of 0.9% for the year-earlier period.
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