UPDATE: Fred's (FRED) Reports Q2 EPS of -$0.62, Revenues Miss, Comp. Sales Down 3.5%
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Fred’s Reports Second Quarter 2018 Results
September 13, 2018 6:00 AM EDTMEMPHIS, Tenn., Sept. 13, 2018 (GLOBE NEWSWIRE) -- Fred's, Inc. (NASDAQ: FRED) reported financial results for the second quarter and six months ended August 4, 2018.
Second Quarter Fiscal 2018 vs. Second Quarter Fiscal 2017
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 2017.Selling, general, and administrative... More