Fred

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The Memphis-based discount retailer reported salezsof $134.7 million for May, down 6 percent comparec to sales of $143.44 million in May 2008. These numbers include Fred’s FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increasedf 1 percent compared to last May. Comparable store salesw in Mayrose 0.2 percent, down comparee to 3.4 percent in the same period last For the first four fiscal months of 2009, the companyg reported total sales of $593.2 million, down 2.4 percent compared to $607.7 million for the same year-aglo period.
However, excluding stores closed in 2008, sales from ongoing storee increased 4 percent compared to thesame four-month period last year. On a comparabl e store basis, year-to-date sales increasec 2.1 percent compared to 2.4 percent last year. Fred’es opened one new pharmacy in May. Fred’s operatess 666 discount merchandise including 24 franchisedstoresw nationwide. Shares closed down 12 cents to $14.
22 per share