Fred's (FRED) Reports Q4 Loss of 54c Per Share

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Go back to Fred's (FRED) Reports Q4 Loss of 54c Per Share

Fred’s Reports First Quarter 2018 Results

June 14, 2018 6:00 AM EDT

MEMPHIS, Tenn., June 14, 2018 (GLOBE NEWSWIRE) -- Fred's, Inc. (NASDAQ: FRED) reported financial results for the first quarter ended May 5, 2018.

Freds Interim CEO and CFO, Joe Anto stated, We are rapidly making progress on our two main goals of eliminating our debt balance and returning to significant profitability by Q4 of this year, but there is still much work to be done.

We recently closed the sale of our specialty pharmacy business for approximately $40 million, and as of June 12th, our borrowings against our ABL were $135 million, down from $162 million at the... More