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Fred's Inc (FRED.O)

FRED.O on Nasdaq

13.28USD
21 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Fred's Pharmacy to acquire 865 Rite Aid stores in $950 mln deal
Tuesday, 20 Dec 2016 08:30am EST 

Fred's Inc : Fred's Pharmacy agrees to acquire 865 Rite Aid stores . Deal for $950 million in cash . Fred's Inc - upon completion of acquisition, company will operate acquired stores and will retain Rite Aid banner through a 24-month transition . Closing of transaction is expected to take several months after walgreens boots alliance's proposed acquisition of Rite Aid is completed . Fred's Inc says has received financing commitments to fund purchase price .Expects that acquired stores would be accretive to earnings and generate substantial cash flow.  Full Article

Fred's Inc net sales for Q3 were $516.6 million, down 4.5 pct
Thursday, 8 Dec 2016 04:05pm EST 

Fred's Inc : Net sales for Q3 were $516.6 million, down 4.5 pct . Recorded charges totaling $38.0 million, or $0.78 per share after tax during quarter, primarily related to inventory write-downs . Comparable store sales for november declined 2.9 pct versus an increase of 1.7 pct in year-earlier month . Decline in november 2016 comparable store sales reflected continued challenges in both front store and pharmacy sales . Fred's announces third quarter 2016 results, november sales . Q3 sales $516.6 million versus I/B/E/S view $514.3 million . November same store sales fell 2.9 percent . Q3 loss per share $1.05 . November sales fell 3.6 percent to $159.7 million .Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.  Full Article

Fred's Inc reports Q2 loss per share of $0.18
Tuesday, 30 Aug 2016 07:45am EDT 

Fred's Inc : August same store sales fell 3 percent . Fred's announces second quarter 2016 results . Q2 sales fell 3 percent . Q2 loss per share $0.18 . August sales $159.6 million . Q2 earnings per share view $-0.21 -- Thomson Reuters I/B/E/S . Comparable store sales for Q2 declined 2.0% versus an increase of 0.9% in Q2 last year . Fred's Inc says expect changes in both total sales and comparable store sales to range from negative 1% to a positive 1% for second half of year . Says may see a loss per diluted share for second half of year in range of $0.18 to $0.23 . See Q3 loss per share deeper than Q4 loss per share .Qtrly net sales $529.5 million versus $546.1 million.  Full Article

Fred's July same store sales fell 4.6 percent
Thursday, 4 Aug 2016 07:45am EDT 

Fred's Inc July Same Store Sales View 0.0 Pct : Fred's reports july sales . Q2 sales $527.7 million versus I/B/E/S view $545.8 million . July same store sales fell 4.6 percent . July sales fell 7 percent to $154 million . On a comparable store basis, q2 sales decreased 2.0% . "we are reviewing our pharmacy reimbursement strategy to manage forward magnitude of dir fees" . - thomson reuters data . Now anticipate reporting a loss for q2 in range of $0.18 to $0.24 per share . "we are disappointed with company's performance in month of july" . "specialty pharmacy continues to be affected by industry-wide slowdown in demand for hepatitis c drugs" . Have initiatives underway that will be implemented during q3, q4 to address "recent trends in general merchandise and pharmacy" .Q2 earnings per share view $-0.00 -- Thomson Reuters I/B/E/S.  Full Article

Fred's June same store sales fell 1.3 percent
Thursday, 7 Jul 2016 07:45am EDT 

Fred's Inc : Fred's reports June sales . June same store sales fell 1.3 percent . June sales fell 2.3 percent to $208.5 million . June same store sales view up 1.5 percent - Thomson Reuters data .Continue to see overall front store margin improvement as co expands assortments in high-margin categories.  Full Article

Fred's Inc says May sales fall 1 pct
Wednesday, 1 Jun 2016 04:30pm EDT 

Fred's Inc : Rreports May sales . May sales fell 1 percent to $164.8 million . Comparable store sales for month declined 0.4 pct versus an increase of 0.3 pct for year-earlier period . Fred's total sales for first four months of fiscal 2016 increased 6 pct to $714.4 million . Retail pharmacy experienced growth in both comparable sales and script counts in May . As we enter June, expect to see lift in those general merchandise departments that are positively influenced by warm weather . During may, Fred's closed six locations, none of which had a pharmacy department . Expect that improvements in retail pharmacy script growth will continue .May same store sales fell 0.4 percent.  Full Article

Fred's reports qtrly net sales $549.5 mln versus $509 mln
Thursday, 26 May 2016 07:45am EDT 

Fred's Inc : Fred's reports first quarter 2016 earnings of $0.03 per share . Q1 earnings per share $0.03 . Q1 sales rose 8 percent . Q1 same store sales rose 1 percent . Q1 earnings per share view $0.02 -- Thomson Reuters I/B/E/S . "Continue to see gross margin pressure in pharmacy department, margin increases in general merchandise departments" . For Q2, total sales are projected to range from flat to an increase of 2 pct versus same quarter last year . Comparable store sales are projected to range from flat to an increase of 2 pct for Q2 . Sees company now expects total sales to increase 2 pct for FY . Sees FY comparable store sales to increase 1 pct to 4 pct . Change in FY outlook is primarily driven by "industry-wide slowdown in hepatitis C specialty drug market" . Earnings per diluted share for fiscal 2016 are expected to range from $0.27 to $0.32 . Earnings per diluted share in Q2 projected to range from $0.00 to $0.03 . Expects May comparable store sales to range from slightly negative comp sales to flat comp sales . Q2 earnings per share view $-0.04 -- Thomson Reuters I/B/E/S . Qtrly net sales $549.5 million versus $509 million . Q1 revenue view $553.9 million -- Thomson Reuters I/B/E/S .FY earnings per share view $0.27, revenue view $2.26 billion -- Thomson Reuters I/B/E/S.  Full Article

Fred's Inc announces executive changes
Monday, 4 Apr 2016 04:05pm EDT 

Fred's Inc:Names Rick hans executive vice president and Chief Financial Officer.Says fills the position left open when Jerry A. Shore was promoted to CEO.  Full Article

Fred's Inc announces leadership change
Wednesday, 23 Mar 2016 08:00am EDT 

Fred's Inc:Michael j. hayes to step down from chairman's role.Board appointed Thomas Tashjian as the new chairman of the board.Says hayes becomes chairman emeritus and will remain on the board of directors.  Full Article

Fred's Inc gives Q4 2015 guidance
Tuesday, 24 Nov 2015 07:45am EST 

Fred's Inc:Provides guidance for Q4 2015 , which does not include an estimate of future data breach-related expenses.Says Total sales for Q4 2015 are expected to increase in the range of 13% to 15%.SaysComparable store sales for Q4 2015 are expected to increase in the range of 1% to 3%.Says Earnings per diluted share for Q4 2015 are forecasted to be in the range of $0.13 to $0.17.Says Adjusted EBITDA for Q4 2015 is forecasted to be in the range of $22.0 million to $26.0 million.  Full Article

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BRIEF-Fred's appoints Linda Longo-Kazanova to board

* Fred's announces appointment of Linda Longo-Kazanova to board of directors