Fred's (FRED) February Same Store Sales Up 2%

Fred's Inc. (NASDAQ: FRED) reports total sales for the month of February were $150.7 million, up 3% from the same period last year. Same store sales rose 2%.

Commenting on the announcement, Bruce A. Efird, Chief Executive Officer, said, "We are pleased to begin our new fiscal year by reporting stronger sales. In the month, our advertising circulars performed at the high-end of plan by attracting customers to key and timely promoted items. The store operation team's aggressive commitment to upgrading our store presentations also continues to gain momentum and contributed to our success in February. Although we remain cautious about the economic pressures on our customers, we continue to be optimistic about our new sales and profit-driving initiatives for 2010 that we will be rolling out during the year."

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