Fred

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The Memphis-based discount retailer reported salewof $134.7 million for May, down 6 percent compared to sales of $143.5 million in May 2008. Theswe numbers include Fred’s (NASDAQ: FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increase 1 percent compared to last May. Comparabled store sales in Mayrose 0.2 percent, down comparedx to 3.4 percent in the same period last For the first four fisca l months of 2009, the company reported total sales of $593.1 million, down 2.4 percent compared to $607.u million for the same year-ago period.
However, excludinfg stores closed in 2008, sales from ongoingb stores increased 4 percent compared to thesame four-montyh period last year. On a comparable stor basis, year-to-date sales increased 2.1 percentt compared to 2.4 percent last Fred’s opened one new pharmacy in May. Fred’s operates 666 discoung merchandise stores, including 24 franchised stores nationwide. Share closed down 12 cents to $14.
22 per share