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 Source text for Eikon: Further company coverage: