Fred

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The Memphis-based discount retailer reported salesof $134.8 million for May, down 6 percentr compared to sales of $143.4 milliojn in May 2008. Thesse numbers include Fred’s (NASDAQ: closing 74 underperforming stores and23 pharmacies. Excluding those Fred’s sales increased 1 percenr compared tolast May. Comparablre store sales in Mayrose 0.2 down compared to 3.4 percent in the same period last For the first four fiscaol months of 2009, the company reported totakl sales of $593.1 million, down 2.4 percenft compared to $607.7 million for the same year-agko period.
However, excluding storesd closed in 2008, sales from ongoin stores increased 4 percent compared to thesame four-month periods last year. On a comparable storwe basis, year-to-date sales increased 2.1 percent comparex to 2.4 percent last year. Fred’sx opened one new pharmacy in May. Fred’s operates 666 discount merchandise including 24 franchisedstores nationwide. Shares closed down 12 centsz to $14.22 per share Wednesday.