Fred’s Reports Second Quarter 2018 Results
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UPDATE: Fred's (FRED) Reports Q2 EPS of -$0.62, Revenues Miss, Comp. Sales Down 3.5%
September 13, 2018 6:05 AM EDT(Updated - September 13, 2018 6:10 AM EDT)
Fred's (NASDAQ: FRED) reported Q2 EPS of ($0.62). Revenue for the quarter came in at $419.7 million versus the consensus estimate of $437.11 million.
Net sales down 4.3% to $419.7 million in Q2 2018 versus $438.5 million in Q2 2017.Comparable store sales decreased 3.5% in Q2 2018 versus a 3.0% decline in Q2 2017.Gross profit decreased to $100.5 million in Q2 2018 versus $122.7 million in Q2 2017.Gross margin as a percentage of sales decreased 410 basis points to 23.9% in Q2 2018 versus 28.0% in Q2... More