Fred's Inc. (FRED) Reports Increase in May Same-Store Sales
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Fred's Inc. (NASDAQ: FRED) reported record sales for the four-week fiscal month of May, which ended June 2, 2007.
Fred's total sales for the month rose 4% to $132.2 million from $127.5 million in May 2006. Comparable store sales for the month increased 0.2% versus an increase of 2.4% in the same period last year.
During May, Fred's opened two new stores and two pharmacies. The Company also closed one store. In 2007, Fred's plans to open 35 to 40 new stores, 15 to 25 new pharmacies, and expects to close 20 to 25 stores, netting growth in selling square footage in the range of 1% to 3% for the year.
Fred's total sales for the month rose 4% to $132.2 million from $127.5 million in May 2006. Comparable store sales for the month increased 0.2% versus an increase of 2.4% in the same period last year.
During May, Fred's opened two new stores and two pharmacies. The Company also closed one store. In 2007, Fred's plans to open 35 to 40 new stores, 15 to 25 new pharmacies, and expects to close 20 to 25 stores, netting growth in selling square footage in the range of 1% to 3% for the year.
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