MEMPHIS, Tenn. — Back-to-school and improved pharmacy performance lifted Fred's sales for the month of August, the company reported Thursday.
Fred's total sales for the four weeks ended Aug. 27 increased 3% to $137.8 million. Comparable store sales for the month increased 1.6% on top of an increase of 3.6% for the same period last year.
Fred's total sales for the year-to-date period increased 2% to $1.1 billion. On a comparable store basis, year-to-date sales increased 0.6% versus an increase of 2.6% for the same period last year.
"We continue to see proof that our initiatives to drive sales and market share growth are resonating with challenged consumers throughout our markets," stated Bruce Efird, Fred's CEO. "Overall, August sales mark a solid start to the third quarter."