Fred’s Reports Third Quarter 2018 Results
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Fred's (FRED) Bounces Off Lows
December 13, 2018 11:00 AM ESTFred's (NASDAQ: FRED) sees a sharp move off lows. Shares remain down 22% following disappointing results.
... MoreFred's (FRED) Reports Q3 Loss of $0.83, Revenues Miss, Comp Sales Down 5.3%
December 13, 2018 6:06 AM ESTFred's (NASDAQ: FRED) reported Q3 EPS of ($0.83), versus ($1.35) reported last year. Revenue for the quarter came in at $306.4 million versus the consensus estimate of $402.4 million.
Net sales down 5.5% to $306.4 million in Q3 2018 versus $324.3 million in Q3 2017.Comparable store sales decreased 5.3% in Q3 2018 versus a 1.0% decline in Q3 2017.Gross profit increased to $77.0 million in Q3 2018 versus $70.0 million in Q3 2017 due primarily to a one-time markdown reserve charge that was recorded in Q3 2017.Gross margin as a percentage of... More