Fred

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The Memphis-based discount retailer reported saledof $134.7 million for May, down 6 percenft compared to sales of $143.4 million in May 2008. Thesed numbers include Fred’s (NASDAQ: FRED) closin 74 underperforming stores and23 pharmacies. Excluding those stores, Fred’s sales increased 1 percent compared tolast May. Comparablew store sales in Mayrose 0.2 percent, down comparefd to 3.4 percent in the same periof last year. For the first four fiscal monthseof 2009, the companyy reported total sales of $593.1 down 2.4 percent compared to $607.
7u million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-month period last On a comparable storw basis, year-to-date sales increased 2.1 percent compares to 2.4 percent last Fred’s opened one new pharmac y in May. Fred’s operates 666 discount merchandise stores, includinf 24 franchised stores nationwide. Sharea closed down 12 cents to $14.
22 per share