Same-store sales jump 5% for Fred's

MEMPHIS, Tenn. Fred’s on Wednesday posted sales of $134.3 million, representing an increase of 5%, for the four weeks ended Aug. 28. Comparable-store sales for the month increased 3.6%, versus a decrease of 1.4% in the same period last year.

“August sales continued the positive pattern set in the first half of the year and provide a solid start to the third quarter,” stated Bruce Efird, Fred’s CEO. “Comparable-store sales for the month were at the higher end of our quarterly guidance, driven by general merchandise departments and increased customer traffic. The Core 5 program, as well as the success of our back-to-school promotions, continues to validate the marketing and merchandising programs initiated earlier this year.”