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Fred's Inc (FRED.O)

FRED.O on Nasdaq

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Latest Key Developments (Source: Significant Developments)

Fred’s pharmacy appoints Jason Jenne chief financial officer
Wednesday, 19 Jul 2017 09:10am EDT 

July 19 (Reuters) - Fred's Inc -:Fred’S pharmacy appoints Jason Jenne chief financial officer.Says Jason Jenne appointed CFO.Fred's Inc - ‍jenne succeeds Rick Hans​.Fred's Inc - ‍hans will remain in an advisory capacity until August 18, 2017​.Says ‍jenne most recently served as president and CEO of True Temper Sports​.  Full Article

Fred’s Pharmacy reports 1.6 pct fall in June same-store sales
Thursday, 6 Jul 2017 07:45am EDT 

July 6 (Reuters) - Fred's Inc :Fred’S Pharmacy reports June sales.June same-store sales fell 1.6 percent.June sales fell 5.3 percent to $197.5 million.Says ‍fred's total sales for month decreased 5.3% year-over-year to $197.5 million from $208.5 million in June 2016​.Fred's Inc - comparable store sales for June included a negative 0.9% impact as a result of sale of low productive discontinued inventory.Fred's Inc- June combined retail and specialty pharmacy comparable store sales increased 3.5%.Fred's Inc - total sales for June decreased 5.3% year-over-year to $197.5 million from $208.5 million in June 2016.Says ‍decrease in June sales is related to closure of 39 underperforming stores in Q1 and continued pressure in front store business​.Fred's Inc - "Still expect to achieve operational profitability in Q4 of 2017".Fred's- ‍"lower than anticipated June sales and headwinds we are facing will impact our Q2 results, and we no longer expect sequential improvement from Q1".Says ‍total comparable store sales for month decreased 1.6% compared with a 1.3% decrease in comparable sales in prior year period​.Fred's - ‍"Front store sales continue to face headwinds in consumables categories, and cooler than average temperatures impacted summer seasonal sales"​.Fred's Inc - ‍in retail pharmacy, "continue to see a positive shift to generic," experience strong sales, script growth in specialty pharmacy business​.  Full Article

Fred's Inc files for offering of upto 9.3 million shares of common stock by selling shareholder
Friday, 30 Jun 2017 04:57pm EDT 

June 30 (Reuters) - Fred's Inc :Fred's Inc files for offering of upto 9.3 million shares of common stock by selling shareholder - sec filing.  Full Article

Fred’S Pharmacy unanimously adopts short-term shareholder rights plan
Wednesday, 28 Jun 2017 09:00am EDT 

June 28 (Reuters) - Fred's Inc :fred’s pharmacy unanimously adopts short-term shareholder rights plan.Fred's inc - board unanimously adopted short-term rights plan.Fred's - pursuant to short-term rights plan, company is issuing one right for each share of common stock outstanding at close of business on july 7, 2017..Fred's inc - sets trigger at 10 percent.Fred's inc - the rights will expire on september 25, 2017; company's board of directors may redeem rights for $0.01 per right.  Full Article

Fred's Pharmacy reports Q1 loss of $0.98/shr
Tuesday, 6 Jun 2017 07:00am EDT 

June 6 (Reuters) - Fred's Inc :Fred's Pharmacy reports first quarter 2017 results.Q1 same store sales fell 1.2 percent.Net sales for Q1 were $532.3 million, down 3.1% from $549.5 million in same period last year.Qtrly loss per share $0.98.  Full Article

Fred's says May sales falls 3.1 pct to $160.1 mln
Thursday, 1 Jun 2017 07:45am EDT 

June 1 (Reuters) - Fred's Inc ::Fred's Pharmacy reports may sales.May same store sales rose 0.8 percent.May sales fell 3.1 percent to $160.1 million.Fred's inc - comparable store sales for may included negative 1.0% impact as result of sale of low productive discontinued inventory versus may last year.Fred's Inc - ‍"we are seeing substantial momentum in our retail and specialty pharmacy businesses, creating opportunities for growth throughout company"​.Fred's Inc says decrease in may sales is related to closure of 39 underperforming stores in q1.Fred's- ‍in retail pharmacy, adjusted script comps continuing to trend positively, in specialty pharmacy business are consistently experiencing "significant" sales growth.  Full Article

Greenlight Capital takes share stake in Perrigo, cuts share stake in Time Warner
Monday, 15 May 2017 05:59pm EDT 

May 15 (Reuters) - Greenlight Capital::Takes share stake of 1.7 million shares in Perrigo Co Plc - SEC filing.Cuts share stake in Time Warner Inc by 37.8 percent to 2.1 million shares.Ups share stake in Fred's Inc by 45.4 percent to 2.2 million class A shares.Change in holdings are as of March 31, 2017 and compared with the previous quarter ended as of Dec. 31, 2016.  Full Article

Fred's Pharmacy April same store sales rose 1.2 percent
Thursday, 4 May 2017 07:45am EDT 

May 4 (Reuters) - Fred's Inc : :Fred's Pharmacy reports april sales.April same store sales rose 1.2 percent.Q1 sales $532.9 million versus i/b/e/s view $520.3 million.April sales fell 3 percent to $159.1 million.Fred's-Comparable store sales for quarter included negative 1.4pct impact as result of sale of low productive discontinued inventory versus same quarter last year.Fred's Inc - Fred's Pharmacy healthcare transformation is well under way as co continues to experience sequential sales improvement.Fred's Inc- comparable store sales for April included negative 1.0pct impact as result of sale of low productive discontinued inventory versus last year.Fred's Inc - "in retail pharmacy, we are seeing sequential growth in adjusted script comps, while our generic dispensing rate has increased".  Full Article

Fred's Inc provides update on agreement with Alden
Monday, 24 Apr 2017 05:40pm EDT 

April 24 (Reuters) - Fred's Inc : :Fred's Inc- cooperation agreement with Alden provides 1 alden designee will resign from board if Alden's ownership falls below 10 pct of outstanding shares.Fred's - cooperation agreement with Alden provides each party not to sue other, subject to certain exceptions; each party not to disparage other party.Fred's - cooperation agreement with Alden provides Alden grants co right of first refusal for block sales of shares of common stock of 5pct or more.Fred's - cooperation agreement with Alden provides co to reimburse Alden amount not to exceed $600,000 for expenses incurred for execution, effectuation of deal.  Full Article

Fred's says appointed Steven B. Rossi and Timothy A. Barton to its board
Monday, 24 Apr 2017 07:00am EDT 

April 24 (Reuters) - Fred's Inc :Says appointed Steven B. Rossi and Timothy A. Barton to its board of directors, effective immediately.Fred's Inc - Rossi, Barton added to Fred's Pharmacy board in connection with a cooperation agreement between Alden Global Capital, Fred's Pharmacy.Says cooperation agreement contains terms regarding parties working together.Says under terms of cooperation agreement, Alden is subject to certain customary standstill and other provisions.  Full Article