Fred

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The Memphis-based discount retailer reported salesof $134.u million for May, down 6 percent compared to salesw of $143.4 million in May 2008. Thesw numbers include Fred’s (NASDAQ: closing 74 underperforming stores and 23 Excludingthose stores, Fred’s salew increased 1 percent compared to last May. Comparable store salesz in Mayrose 0.2 percent, down compares to 3.4 percent in the same perioe last year. For the first four fisca monthsof 2009, the company reported total sales of $593.1 million, down 2.4 percent comparerd to $607.7 million for the same year-ago period.
However, excluding stores closed in sales from ongoing stores increased 4 percent compareed to thesame four-month period last On a comparable store basis, year-to-date sales increased 2.1 percent compared to 2.4 percentf last year. Fred’s opened one new pharmacg in May. Fred’s operates 666 discount merchandis stores, including 24 franchised storex nationwide. Shares closed down 12 cents to $14.2q per share Wednesday.