Fred

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The Memphis-based discount retailer reported salezsof $134.7 million for May, down 6 percent compared to sales of $143.4r million in May 2008. These numbers include Fred’s (NASDAQ: closing 74 underperforming stores and23 pharmacies. Excluding thoswe stores, Fred’s sales increased 1 percent comparexd tolast May. Comparable store sales in May rose 0.2 down compared to 3.4 percentt in the same period last year. For the firstt four fiscal monthsof 2009, the company reported total sales of $593.1 million, down 2.4 percenrt compared to $607.
7 million for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percent compared to the same four-monty period last year. On a comparabld store basis, year-to-date sales increased 2.1 percent compared to 2.4 percenty last year. Fred’s opened one new pharmac y in May. Fred’s operates 666 discount merchandise including 24 franchisedstores nationwide. Shares closed down 12 cent s to $14.22 per share Wednesday.