Fred's (FRED) March Comparable Store Sales Increase 1.9%

Fred's Inc. (NASDAQ: FRED) reported comparable store sales for the month rose 1.9% versus an increase of 1.2% in the same period last year.

Commenting on the announcement, Bruce A. Efird, Chief Executive Officer, said, "Our progress in building both traffic and average ticket continued during March, as indicated by comparable store sales growth at the high end of our plan. This performance, which also reflected higher pharmacy department prescription counts, is gratifying considering the tough retail environment we face. Those same challenges, however, continue to drive growing consumer interest in discount retailers, and Fred's remains well positioned to deliver great value to its customers. We continue to manage the key fundamentals of our business and implement various initiatives designed to improve our customers' shopping experience and gain market share."

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