April 6, 2017 / 10:50 AM / 5 months ago

BRIEF-Fred's Q4 loss per share $0.60

April 6 (Reuters) - Fred’s Inc:

* Fred’s reports fourth quarter, full fiscal year 2016 results and march sales

* Q4 loss per share $0.60

* March same store sales fell 0.5 percent

* Q4 earnings per share view $-0.16 -- Thomson Reuters I/B/E/S

* Q4 sales $529.7 million versus I/B/E/S view $531.3 million

* March sales fell 2.7 percent to $208.6 million

* Fred’s inc says march comparable store sales decreased 0.5%

* Fred’s inc - “we expect positive trends we experienced in q4 to continue”

* During Q4, company recorded charges totaling $23.4 million

* Fred’s inc - “looking at organization as a whole, we expect to see continued sequential bottom-line improvement in 2017 as initiatives underway take hold”

* Fred’s inc - comparable store sales for quarter decreased 3.6% versus a 1.7% increase in comparable store sales in q4 of last year

* Fred’s inc - comparable store sales in q4 included negative 2.6% impact as result of sale of low productive discontinued inventory versus Q4 of 2015

* Total sales for five-week fiscal month ended april 1 decreased 2.7% to $208.6 million from $214.3 million in march 2016

* Fred‘s-Fred’s pharmacy’s working collaboratively with Walgreens Boots Alliance, Rite, FTC to help obtain FTC’s approval of WBA’s pending acquisition of rite aid

* Fred‘s-Fred’s pharmacy remains committed to buying additional assets, including up to 1,200 rite aid stores, to extent necessary to obtain FTC’s approval for deal Source text for Eikon: Further company coverage:

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