Strong holiday sales and specialty pharmacy fuel Fred's 10% December growth

MEMPHIS, Tenn. - Fred's Super Dollar on Thursday reported a total sales lift of 10% for December to $231.9 million. Comparable store sales for the month rose 2.4% compared with a decline of 1.4% in the year-earlier period. 

 

"We are pleased to report solid sales results for December, which reflected the success of our merchandising programs designed for the holiday season and, in the case of total sales, recent growth in our specialty pharmacy department," stated Jerry Shore, Fred's CEO. "December comparable store sales were driven by strong general merchandise department sales, with increases in holiday gift-giving categories as well as continued balance in our sales mix across all categories. On the other hand, comparable sales for our retail pharmacy department were negatively affected in December by a very low incidence of cold and flu activity, which reduced December overall comparable store sales by approximately 125 basis points."

 

Fred's total sales for the first 11 months of 2015 increased 9% to $2 billion as compared to the same period last year.

 

Fred's operates 659 discount general merchandise stores and three specialty pharmacy-only locations in 15 states in the southeastern United States. Included in the store count are 18 franchised locations. Also, there are 376 full-service pharmacy departments located within the company's stores.