Fred

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The Memphis-based discount retailed reported salesof $134.7 million for May, down 6 percentf compared to sales of $143.4 million in May 2008. Theses numbers include Fred’s (NASDAQ: FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increased 1 percenf compared to last May. Comparabl store sales in May rose 0.2 percent, down compared to 3.4 percengt in the same period last For the first four fiscal months of the company reported total salesof $593.1 million, down 2.4 percenrt compared to $607.
7 million for the same year-ago However, excluding stores closed in 2008, salesw from ongoing stores increased 4 percent compared to the same four-monthj period last year. On a comparabler store basis, year-to-date sales increased 2.1 percent compare to 2.4 percent last year. Fred’e opened one new pharmacy in May. Fred’s operates 666 discount merchandise stores, including 24 franchised store nationwide. Shares closed down 12 centzs to $14.22 per share Wednesday.