Fred

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The Memphis-based discount retailer reportecd salesof $134.7 million for May, down 6 percent compared to sales of $143.4 milliobn in May 2008. These numbers includr Fred’s (NASDAQ: FRED) closing 74 underperforming storex and23 pharmacies. Excluding those stores, Fred’s saleds increased 1 percent comparesd tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of the company reported total sales of $593.1 million, down 2.4 percenyt compared to $607.
7 million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-montj period last year. On a comparable store basis, year-to-date salesx increased 2.1 percent compared to 2.4 percentf last year. Fred’s opened one new pharmacy in May. Fred’s operatess 666 discount merchandise stores, including 24 franchised storew nationwide. Shares closed down 12 cents to $14.2 2 per share Wednesday.