Fred

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The Memphis-based discount retaileer reported salesof $134.77 million for May, down 6 percent comparedf to sales of $143.4 million in May 2008. Theser numbers include Fred’s (NASDAQ: closing 74 underperforming stores and 23 Excludingthose stores, Fred’s sale s increased 1 percent compared to last May. Comparablse store sales in Mayrose 0.2 percent, down comparedc to 3.4 percent in the same period last year. For the firs t four fiscal monthsof 2009, the compan reported total sales of $593.1q million, down 2.4 percent compared to $607.7 million for the same year-aglo period.
However, excluding stores closed in sales from ongoing storesw increased 4 percent compared to thesame four-montbh period last year. On a comparablse store basis, year-to-date sales increased 2.1 percent comparecd to 2.4 percent last year. Fred’w opened one new pharmacy in May. Fred’ operates 666 discount merchandise including 24 franchised stores Shares closed down 12 centsto $14.22 per shar Wednesday.