Strong Sales Lift Earnings at Fred's -- Memphis-Based Discounter Meets 2q Expectations
The Commercial Appeal (2007-Current) › August 29, 2008
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Summary
on Thursday reported second-quarter net income of $1 million, or 3 cents a share, compared with $3.1 million, or 8 cents a share, a year earlier.
The earnings include expenses associated with the company's previously announced plan to shutter 75 underperforming stores and 22 pharmacies in 2008.See the full content of this document
Extract
Strong Sales Lift Earnings at Fred's -- Memphis-Based Discounter Meets 2q Expectations
During the second quarter, 50 stores and one pharmacy were closed, while seven stores and two pharmacies were opened. Year-to- date, Fred's has opened 15 new st...
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