Fred's (FRED) Reports Q3 Loss of $0.83, Revenues Miss, Comp Sales Down 5.3%

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Go back to Fred's (FRED) Reports Q3 Loss of $0.83, Revenues Miss, Comp Sales Down 5.3%

Fred’s Reports Third Quarter 2018 Results

December 13, 2018 6:00 AM EST

MEMPHIS, Tenn., Dec. 13, 2018 (GLOBE NEWSWIRE) -- Fred's, Inc. (NASDAQ: FRED) reported financial results for the third quarter and nine months ended November 3, 2018. Except as otherwise noted, the results contained herein do not include the previously-announced sale of Freds specialty pharmacy business or Freds previously-announced transaction with Walgreens.

Third Quarter Fiscal 2018 vs. Third Quarter Fiscal 2017

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... More