Fred's Inc. Comments On Q1 2012 Sales Outlook; Issues Q1 2012 EPS Outlook In Line With Estimates; Comments On Q1 2012 Comparable Store Sales Outlook; Issues FY 2012 EPS Outlook In Line With Estimates

Fred's Inc. announced that for first quarter of 2012, it expects sales to increase in the range of 3% to 5%. Comparable store sales to be approximately flat compared to an increase of 1% in the first quarter last year. Earnings per diluted share (EPS) for the first quarter to increase between 8% and 17% to a range of $0.26 to $0.28 compared with earnings per share of $0.24 in the same period last year. For fiscal 2012, it expects EPS in the range of $0.96-$1.04. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $504 million and EPS of $0.28 for first quarter of 2012; EPS of $0.98 for fiscal 2012.