Fred

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The Memphis-based discount retailer reportedx salesof $134.7 million for May, down 6 percenyt compared to sales of $143.4 million in May 2008. These numbers includee Fred’s (NASDAQ: FRED) closing 74 underperforming storesa and23 pharmacies. Excluding those Fred’s sales increased 1 percenty compared tolast May. Comparable store salesx in Mayrose 0.2 percent, down compared to 3.4 percentr in the same period last year. For the firsr four fiscal months of the company reported total salesof $593.1 down 2.4 percent compared to $607.
77 million for the same year-ago However, excluding stores closed in 2008, sales from ongoinyg stores increased 4 percent compared to the same four-monthj period last year. On a comparable stores basis, year-to-date sales increased 2.1 percent compared to 2.4 perceng last year. Fred’s opened one new pharmacy in May. Fred’s operates 666 discount merchandise stores, including 24 franchiser stores nationwide. Shares closed down 12 cents to $14.2w per share Wednesday.