Pharmacy, fueled by specialty expansion, provides bright side of February sales for Fred's

3/5/2015

MEMPHIS, Tenn. — The deep freeze hitting much of the United States this winter helped Fred’s improve its same-store sales from the prior year, with cold-weather product departments performing well in February. 


Fred's total sales for February, not adjusting the closed stores, decreased 2% to $154.1 million from $157.4 million in February 2014. Same store sales for the month were approximately flat versus a decrease of 2.2% in February last year.


“Prior to the poor weather that hit most of our markets during the last two weeks of the month, we were encouraged to see January's sales momentum continue into February,” said Jerry A. Shore, CEO at Fred’s. “In addition to the cold weather product departments, other high-performing departments for February included health aids, hardware, toys, and As Seen on TV. Likewise our pharmacy department continued to post growth in scripts and sales, benefitting from ongoing expansion and growth of our specialty pharmacy division. "


During February, Fred's opened one Xpress pharmacy location. Fred's operates 661 discount general merchandise stores, including 19 franchised Fred's stores, in the southeastern United States.


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