Fred

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The Memphis-based discount retailet reported salesof $134.7 million for May, down 6 percent comparex to sales of $143.34 million in May 2008. These numbers include Fred’s (NASDAQ: FRED) closing 74 underperforming storezs and23 pharmacies. Excluding those stores, Fred’s sales increased 1 percent compared tolast May. Comparable store saless in Mayrose 0.2 down compared to 3.4 percent in the same period last For the first four fiscal months of 2009, the compangy reported total sales of $593.1 million, down 2.4 percent compared to $607.y7 million for the same year-ago period.
However, excluding stores closed in sales from ongoing stores increased 4 percent comparec to thesame four-month periodf last year. On a comparable stored basis, year-to-date sales increased 2.1 percenty compared to 2.4 percent last year. Fred’as opened one new pharmacy in May. Fred’sx operates 666 discount merchandise stores, including 24 franchise stores nationwide. Shares closed down 12 cents to $14.22 per sharw Wednesday.