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Fred's Inc (FRED.OQ)

FRED.OQ on NASDAQ Stock Exchange Global Select Market

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18 Apr 2019
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Latest Key Developments (Source: Significant Developments)

Fred's Inc Says Currently Unable To Determine An Estimate Of Amount Expected To Be Incurred In Connection With Plan To Close Stores
Thursday, 11 Apr 2019 

April 11 (Reuters) - Fred's Inc ::FRED'S INC - CURRENTLY UNABLE TO DETERMINE AN ESTIMATE OF AMOUNT OR RANGE OF AMOUNTS EXPECTED TO BE INCURRED IN CONNECTION WITH PLAN TO CLOSE STORES.  Full Article

Fred’s Retains PJ Solomon To Evaluate Strategic Alternatives
Thursday, 11 Apr 2019 

April 11 (Reuters) - Fred's Inc ::FRED’S RETAINS PJ SOLOMON TO EVALUATE STRATEGIC ALTERNATIVES TO MAXIMIZE VALUE.FRED'S INC - COMPANY ALSO ANNOUNCED THAT IT WILL BEGIN TO CLOSE UNDERPERFORMING AND UNPROFITABLE STORES.FRED'S INC - LIQUIDATION SALES AT 159 STORES CURRENTLY DESIGNATED FOR CLOSURE WILL BEGIN TODAY.FRED'S INC - COMPANY'S 398 OTHER STORES WILL REMAIN OPEN..FRED'S INC - FRED'S INTENDS TO CLOSE ALL 159 IMPACTED STORES BY END OF MAY 2019.FRED'S INC - ALSO CONTINUING TO PURSUE SALE OF ITS REMAINING PHARMACY ASSETS.  Full Article

Fred’S Inc Reports Q2 Sales Of $419.7 Million
Thursday, 13 Sep 2018 

Sept 13 (Reuters) - Fred's Inc ::FRED’S REPORTS SECOND QUARTER 2018 RESULTS.Q2 LOSS PER SHARE $0.62 FROM CONTINUING OPERATIONS.Q2 SALES FELL 4.3 PERCENT TO $419.7 MILLION.Q2 SAME STORE SALES FELL 3.5 PERCENT.REMAIN CONFIDENT THAT OVER BALANCE OF 2018 CO WILL BE ABLE TO STABILIZE REVENUES.EXPECTS TO ENTER 2019 WITH "SIGNIFICANT MOMENTUM".MAKING PROGRESS TOWARDS ITS GOAL TO RETURN TO PROFITABILITY BY Q4.  Full Article

Fred’s Inc Appoints Dana Needleman And Thomas Zacharias To Its Board
Wednesday, 23 May 2018 

May 22 (Reuters) - Fred's Inc ::FRED’S, INC. ANNOUNCES APPOINTMENT OF DANA GOLDSMITH NEEDLEMAN AND THOMAS ZACHARIAS TO ITS BOARD OF DIRECTORS.FRED'S - NEW APPOINTMENTS ARE IN CONNECTION WITH RETIREMENT OF MIKE MCMILLAN, PETER BOCIAN AND NEELI BENDAPUDI.  Full Article

Fred's Reports Q4 Loss Per Share $0.62
Friday, 4 May 2018 

May 4 (Reuters) - Fred's Inc ::FRED’S REPORTS FOURTH QUARTER AND FISCAL YEAR 2017 RESULTS.Q4 LOSS PER SHARE $0.62.Q4 SALES ROSE 2.1 PERCENT TO $477.3 MILLION.Q4 SAME STORE SALES FELL 0.9 PERCENT.GROSS MARGIN DOWN 280 BASIS POINTS TO 24.1% IN Q4 2017 VERSUS Q4 2016."WE ARE EVALUATING VARIOUS OPTIONS FOR OUR RETAIL PHARMACY PORTFOLIO".FRED'S - SOME STRATEGIC TRANSACTIONS CO IS ACTIVELY PURSUING INCLUDE SALE OF SPECIALTY PHARMACY BUSINESS & PORTIONS OF VAST REAL ESTATE PORTFOLIO.FRED'S - MADE SIGNIFICANT PROGRESS ON EXPENSE SIDE OF BUSINESS, IDENTIFIED $30-$40 MILLION IN OPERATING COST REDUCTIONS FOR FY 2018.  Full Article

Fred's Appoints Joseph Anto as Chief Financial Officer
Friday, 2 Feb 2018 

Feb 1 (Reuters) - Fred's Inc ::FRED’S, INC. APPOINTS JOSEPH ANTO CHIEF FINANCIAL OFFICER.FRED’S, INC. APPOINTS JOSEPH ANTO CHIEF FINANCIAL OFFICER.FRED'S INC - ‍ ANTO SUCCEEDS JASON JENNE, WHO IS LEAVING COMPANY​.FRED'S INC - JENNE WILL REMAIN IN AN ADVISORY CAPACITY UNTIL FEBRUARY 26, 2018.  Full Article

Fred's Reports Q3 Same Store Sales Fell 0.8 Percent
Wednesday, 6 Dec 2017 

Dec 6 (Reuters) - Fred's Inc ::FRED'S INC. REPORTS THIRD QUARTER 2017 RESULTS.Q3 SALES $493.6 MILLION VERSUS I/B/E/S VIEW $499.8 MILLION.Q3 SAME STORE SALES FELL 0.8 PERCENT.- QTRLY LOSS EARNINGS PER SHARE $1.38.-COMP STORE SALES IN Q3 OF 2017 INCLUDED NEGATIVE 36 BPS IMPACT AS RESULT OF SALE OF LOW PRODUCTIVE DISCONTINUED INVENTORY VERSUS Q3 OF 2016.FRED'S - Q3 INCLUDED CHARGES OF $0.96 PER SHARE AFTER TAX.Q3 EARNINGS PER SHARE VIEW $-0.13 -- THOMSON REUTERS I/B/E/S.FRED'S - Q3 EPS, ADJUSTED EBITDA NEGATIVELY IMPACTED BY MORE AGGRESSIVE INVENTORY REDUCTION.FRED'S - Q3 EPS, ADJUSTED EBITDA ALSO NEGATIVELY IMPACTED BY TIMING OF SHIPMENTS FOR HIGHER MARGIN SEASONAL MERCHANDISE.  Full Article

Fred's Inc amends short-term shareholder rights plan
Monday, 18 Sep 2017 

Sept 18 (Reuters) - Fred's Inc :Fred’S, Inc. amends short-term shareholder rights plan to protect the ability to utilize net operating losses.Fred's Inc - ‍amended rights plan, which takes effect immediately, will continue in effect until September 18, 2020​.  Full Article

Fred's Inc names Heath Freeman chairman of the board
Wednesday, 6 Sep 2017 

Sept 6 (Reuters) - Fred's Inc :Fred's Inc names Heath Freeman chairman of the board.Fred's Inc - ‍Freeman succeeds Thomas Tashjian, who is retiring from board​.  Full Article

Fred's Pharmacy qtrly ‍loss per share $0.78​
Wednesday, 6 Sep 2017 

Sept 6 (Reuters) - Fred's Inc ::Fred's Pharmacy reports second quarter 2017 results.Q2 sales $507.8 million versus i/b/e/s view $507.4 million.Q2 same store sales fell 0.3 percent.Fred's Inc - qtrly ‍loss per share $0.78​.Q2 earnings per share view $-0.19, revenue view $507.4 million -- Thomson Reuters I/B/E/S.  Full Article

Discount retailer Fred's to close nearly 30 percent of stores

Fred's Inc said on Thursday it would close at least 159 underperforming and unprofitable stores, or nearly 30 percent of its total number of outlets, as the discount retailer works to turnaround its struggling business.