Fred's December sales rise, comps fall

MEMPHIS, Tenn. — December sales for Fred's realized a 1% gain to a total of $213 million, the discounter said Thursday.

Comparable-store sales for Fred's saw a decline of 0.4% in December, compared with an increase of 0.2% in the same period last year.

Fred's CEO Bruce Efird said sales were affected by unseasonably warm weather and continue to be at the low and midpoint of its projected fourth-quarter earnings per share range.

During the month, Fred's opened seven net stores, including five new pharmacies.