Fred's (FRED) Tops Q2 EPS by 5c; Guides FY15 EPS Below Expectations

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Go back to Fred's (FRED) Tops Q2 EPS by 5c; Guides FY15 EPS Below Expectations

Fred's Reports Second Quarter 2015 Results

August 27, 2015 7:45 AM EDT

MEMPHIS, Tenn.--(BUSINESS WIRE)-- Fred's, Inc. (NASDAQ: FRED) today reported financial results for the second quarter and six months ended August 1, 2015.

For the second quarter ended August 1, 2015, Fred's net loss totaled $4.9 million or ($0.13) per share, which included an increase in non-cash LIFO expense that accounted for approximately ($0.05) of the per-share loss for the quarter. This compares with a net loss of $16.4 million or ($0.45) per share for the second quarter ended August 2, 2014, which included a provision for reserves related to inventory clearance and store closings totaling $14.8 million on a pretax basis or... More