Easter products, pharmacy revenue boost March sales at Fred’s

MEMPHIS, Tenn. — Fred’s on Thursday announced that its March sales increased 0.3% to $191.7 million, as compared to $191 million during the same period in 2014. Comparable store sales for the month increased nearly 2%, compared with a decrease of 1.2% in March 2014. 

 

Total sales for the first two months of fiscal 2015 declined 1% to $344.9 million. Excluding sales of $15.8 million from closed stores for the comparable two-month period in 2014, total sales increased by 4% for the same time period in 2015, the company reported.

 

According to Fred’s CEO Jerry Shore, Easter product sales as well as revenue from the company’s pharmacy department were factors in the increase. He noted areas where the company hoped to see improvement: “We were negatively affected in spring seasonal and Lawn & Garden product categories due to the port strike and wet weather during March,” Shore said. “We expect that these sales will rebound in the upcoming months as spring merchandise is received.”

 

Shore also added that the Fred’s pharmacy team is at work completing the acquisition of specialty pharmacy business EntrustRx and Reeves-Sain Drug Store.