Fred

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The Memphis-based discount retailer reportes salesof $134.7 million for May, down 6 percent comparedc to sales of $143.4 million in May 2008. Thesse numbers include Fred’s (NASDAQ: FRED) closing 74 underperforming stores and23 pharmacies. Excluding those Fred’s sales increased 1 percenf compared tolast May. Comparable store sale s in Mayrose 0.2 percent, down compared to 3.4 percenrt in the same period last year. For the first four fiscal monthsof 2009, the compangy reported total sales of $593.1 million, down 2.4 perceny compared to $607.
7 million for the same year-ago However, excluding stores closed in 2008, salesx from ongoing stores increased 4 percent comparedd to the same four-month period last On a comparable store year-to-date sales increased 2.1 percent comparer to 2.4 percent last year. Fred’s openedc one new pharmacy in May. Fred’es operates 666 discount merchandise stores, including 24 franchised storese nationwide. Shares closed down 12 centw to $14.22 per share Wednesday.