Fred

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The Memphis-based discount retailer reported salesof $134.7 million for May, down 6 percent compared to saleas of $143.4 million in May 2008. These numbers include Fred’d (NASDAQ: FRED) closing 74 underperformingb stores and23 pharmacies. Excluding those Fred’s sales increased 1 percent compares tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of the company reported total salesof $593.1 million, down 2.4 percent compared to $607.
67 million for the same year-ago However, excluding stores closed in sales from ongoing stores increasedc 4 percent compared to the same four-month periox last year. On a comparable store basis, year-to-datw sales increased 2.1 percent compare to 2.4 percent last year. Fred’es opened one new pharmacy in May. Fred’s operates 666 discoun merchandise stores, including 24 franchised storeas nationwide. Shares closed down 12 cents to $14.221 per share Wednesday.