Fred

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The Memphis-based discount retailer reported saleof $134.7 million for May, down 6 percent compared to salew of $143.4 million in May 2008. Thesde numbers include Fred’s FRED) closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increased 1 percentt compared to last May. Comparablre store sales in Mayrose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of 2009, the company reportefd total sales of $593.1 million, down 2.4 percent comparedf to $607.7 million for the same year-agko period.
However, excluding stores closed in 2008, salew from ongoing stores increased 4 percenty compared to thesame four-month periox last year. On a comparable storwe basis, year-to-date sales increased 2.1 percent compared to 2.4 percent last Fred’s opened one new pharmacy in May. Fred’s operatesd 666 discount merchandise including 24 franchised stores Shares closed down 12 centsto $14.22 per shar Wednesday.