Northcoast Research Upgrades Fred's Inc. (FRED) to Buy

Go back to Northcoast Research Upgrades Fred's Inc. (FRED) to Buy

Fred's (FRED) Comps Fell 1.5% in February; Cuts Q4 EPS Outlook

March 7, 2013 7:50 AM EST

Fred's, Inc. (NASDAQ: FRED) reported sales for the four-week month of February, the first month of fiscal 2013, which ended March 2, 2013.

Fred's total sales for the month increased slightly to $159.2 million from $159.0 million in February 2012. Comparable store sales for the month declined 1.5% compared with a decline of 0.7% in the same period last year.

Commenting on the announcement, Bruce A. Efird, Chief Executive Officer, said, "Considering current economic headwinds, including delays encountered with processing tax... More