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Fred's Inc Lowers Q3 2012 EPS Guidance; Reaffirms FY 2012 EPS Guidance

Thursday, 1 Nov 2012 07:46am EDT 

Fred's Inc announced that as it reach the end of the third quarter of 2012, the Company now expect earnings per share (EPS) to be in the range of $0.18 to $0.23 for the quarter. The reduction in expected earnings from prior estimates reflects the incremental shift in layaway sales, unfavorable LIFO expense charges in the quarter and a single-event increase in insurance reserves, with a combined impact of $0.03 to $0.05 in earnings per share for the quarter. However, with the implementation of several key new merchandising and marketing initiatives in the fourth quarter and the positive impact of the forward shifting of layaway sales and earnings, the Company continue to project a double-digit earnings per share improvement for fiscal 2012, with EPS now expected to be in the range of $0.96 to $1.02. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $0.23 for the third quarter of 2012 and EPS of $0.98 for fiscal 2012. 

Company Quote

0.31 +2.16%
20 Oct 2014