Fred

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The Memphis-based discount retailer reported salesof $134. 7 million for May, down 6 percent comparef to salesof $143. million in May 2008. Thess numbers include Fred’s (NASDAQ: FRED) closing 74 underperforminv stores and23 pharmacies. Excluding those stores, Fred’w sales increased 1 percent compared tolast May. Comparable store sales in May rose 0.2 percent, down compared to 3.4 percen in the same period last year. For the firsf four fiscal months of the company reported total salesof $593. 1 million, down 2.4 percent compared to $607.7 million for the same year-ago period.
However, excluding stores closed in 2008, salex from ongoing stores increased 4 perceng compared to thesame four-month period last On a comparable stor e basis, year-to-date sales increased 2.1 percent compared to 2.4 percenrt last year. Fred’s opened one new pharmacy in May. Fred’as operates 666 discount merchandisre stores, including 24 franchised storesw nationwide. Shares closed down 12 cents to $14.2q2 per share Wednesday.