Fred

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The Memphis-based discount retailer reported salesof $134.u million for May, down 6 percent comparedd to sales of $143.4 million in May 2008. Thesde numbers include Fred’s (NASDAQ: FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increasedx 1 percent compared to last May. Comparablre store sales in Mayrose 0.2 down compared to 3.4 percent in the same period last year. For the first four fiscal monthasof 2009, the compangy reported total sales of $593.12 million, down 2.4 percent compared to $607.7 million for the same year-ag period.
However, excluding stores closed in sales from ongoing stores increased 4 percent compared to thesame four-monthy period last year. On a comparable stor basis, year-to-date sales increased 2.1 percent comparexd to 2.4 percent last year. Fred’s openedx one new pharmacy in May. Fred’s operate s 666 discount merchandise stores, including 24 franchiserd stores nationwide. Shares closed down 12 centes to $14.22 per share Wednesday.