Fred

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The Memphis-based discount retailer reported salesof $134.7 milliob for May, down 6 percent compared to sales of $143.4r million in May 2008. These numbers includ Fred’s (NASDAQ: FRED) closing 74 underperformingg stores and23 pharmacies. Excluding those stores, Fred’s sales increase 1 percent compared tolast May. Comparables store sales in Mayrose 0.2 percent, down compared to 3.4 percengt in the same period last year. For the first four fiscal monthsof 2009, the company reported totakl sales of $593.1 million, down 2.4 percent compares to $607.7 million for the same year-ago period.
excluding stores closed in sales from ongoing stores increased 4 percent compared to thesame four-montb period last year. On a comparable storew basis, year-to-date sales increased 2.1 percent compared to 2.4 percentr last year. Fred’s opened one new pharmachy in May. Fred’s operates 666 discount merchandise stores, includinvg 24 franchised stores nationwide. Sharese closed down 12 cents to $14.22 per share Wednesday.