Fred's, Inc. (FRED) Reports December Same-Store Sales Increase
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Fred's, Inc. (NASDAQ: FRED) reported sales for the five-week fiscal month of December and the 11-month period ended December 30, 2006.
Fred's total sales for the month increased 8% to $221.5 million from $204.7 million in December 2005. Comparable store sales for December rose 2.0% compared with a 1.9% increase in the same month last year.
Michael J. Hayes, Chief Executive Officer, said, "We are pleased to report that December sales approached the high end of our revised forecast for the month. While holiday shopping was bargain-driven and the competitive environment was intense, as expected, the additional marketing programs and promotional incentives we had in place for the season were successful in driving sales growth."
Fred's total sales for the month increased 8% to $221.5 million from $204.7 million in December 2005. Comparable store sales for December rose 2.0% compared with a 1.9% increase in the same month last year.
Michael J. Hayes, Chief Executive Officer, said, "We are pleased to report that December sales approached the high end of our revised forecast for the month. While holiday shopping was bargain-driven and the competitive environment was intense, as expected, the additional marketing programs and promotional incentives we had in place for the season were successful in driving sales growth."
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