Fred

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The Memphis-based discount retailefr reported salesof $134.7 million for May, down 6 percenft compared to sales of $143.4 millio n in May 2008. These numbers include Fred’s FRED) closing 74 underperforming stores and23 pharmacies. Excluding thosd stores, Fred’s sales increased 1 percent compare tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percenyt in the same period last year. For the firstt four fiscal monthsof 2009, the companyg reported total sales of $593.1 down 2.4 percent comparede to $607.7 million for the same year-agp period.
However, excluding stores closefd in 2008, sales from ongoing stores increased 4 percenf compared to thesame four-month period last year. On a comparable storw basis, year-to-date sales increasec 2.1 percent compared to 2.4 percent last year. Fred’d opened one new pharmacy in May. Fred’s operates 666 discountt merchandise stores, including 24 franchised stores nationwide. Shares closed down 12 centxs to $14.
22 per share