Fred's posts 2% lift in November sales

MEMPHIS, Tenn. — Fred's Super Dollar on Tuesday reported a sales increase of 2% to $154.3 million for the four-week fiscal month of November ended Nov. 29. Comparable store sales for the month decreased 2.3% versus flat sales in the same period last year.

 

"Excluding the impact of our decision to close our stores on Thanksgiving Day, comparable stores sales for the month were approximately flat," stated Jerry Shore, Fred's CEO. "The pharmacy department once again had solid performance with comparable store sales and script growth," he said. 

 

"We begin December with our stores in great shape for the holidays, backed by a solid merchandising and operational plan to drive a successful fourth quarter," Shore added."Momentum is building around the plan we outlined last week for process improvements and coordination of efforts, steps that will help us execute our strategic and operating plans and drive strong returns in 2015."

 

Fred's total sales for the year-to-date period increased 2% to $1.62 billion. On a comparable store basis, year-to-date sales decreased 1% compared with an increase of 1% for the year-earlier period.

 

During November, Fred's opened two full-service store locations and one Xpress location. Fred's also closed two Xpress locations and two franchise stores.