- Fred's Q2 sales up slightly; consumers buying mostly staples
- Fred's looks to grow through Diplomat Specialty partnership and Drug and Dollar concept pharmacy
- Branded-to-generic shift impacts Fred's September comps
- April sales increase 3% for Fred's
- Fred's misses analyst expectations, points to aggressive pharmacy expansion as future growth driver
MEMPHIS, Tenn. — Fred's on Thursday reported sales of $152.1 million, up 4%, for the four-week fiscal month ended Nov. 26. Comparable store sales for the month rose 1.5% on top of an increase of 4.7% in the same period last year.
"Lapping very strong sales in the year-earlier period and facing an extremely aggressive competitive environment, we are pleased with our overall sales performance for November," stated Bruce Efird, Fred's CEO. "Comparable store sales growth, driven largely by increased customer traffic, continues to reflect the success of our sales and marketing initiatives. Our best-performing Core 5 departments during the month included pet, household supplies and pharmacy."
During the month, Fred's opened five new express pharmacy locations.