Fred's (FRED) Tops Q2 EPS by 3c; Offers H216 Outlook
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Fred's Announces Second Quarter 2016 Results
August 30, 2016 7:45 AM EDTCompany Also Reports August Sales
MEMPHIS, Tenn.--(BUSINESS WIRE)-- Fred's, Inc. (NASDAQ: FRED) today reported financial results for the second quarter and six months ended July 30, 2016.
For the second quarter ended July 30, 2016, Fred's net loss totaled $6.9 million or ($0.18) per share compared with a net loss of $4.9 million or ($0.13) per share for the second quarter of last year. For the first six months of 2016, Fred's net loss totaled $5.7 million or ($0.15) per share compared with a net loss of $4.9 million or ($0.13) per share for the same period last year.
... MoreFred’s Announces Promotion of Craig Barnes to Chief Operating Officer – Front Store
August 29, 2016 6:10 PM EDTMEMPHIS, Tenn.--(BUSINESS WIRE)-- Freds Inc. (NASDAQ: FRED) today announced that Craig Barnes, Executive Vice President of Supply Chain, Global and Domestic Logistics, has been promoted to the newly created role of Chief Operating Officer Front Store. In this role, Barnes will be responsible for Merchandising, Marketing, Supply Chain, Store Operations and Real Estate, and will report directly to Michael K. Bloom, Chief Executive Officer.
Commenting on the announcement, Bloom said, I am pleased that Craig will be assuming increased responsibilities within our organization, as we continue to position the Company for... More
Michael Bloom Named CEO as Jerry Shore Sets Retirement Date
August 29, 2016 6:00 PM EDTMEMPHIS, Tenn.--(BUSINESS WIRE)-- Fred's Inc. (NASDAQ: FRED) today announced that Chief Executive Officer Jerry A. Shore will retire from the Company in February 2017. The Board of Directors is pleased to name Michael K. Bloom Chief Executive Officer, effective immediately. Bloom, who joined Fred's as President and Chief Operating Officer in January 2015, has worked closely with Shore on building a strong management team to ensure a smooth and effective transition.
Commenting on the announcement, Thomas H. Tashjian, Chairman of the Board of Directors, said, "Jerry and Mike have worked... More
