Fred's focus is on pharmacy and Hometown Auto & Hardware departments going forward

MEMPHIS, Tenn. — Fred's Super Dollar on Thursday posted $157.5 million in sales, representing a decline of 1%, for the four weeks ended March 1. Comparable store sales for the month decreased 2.2% compared with a decrease of 1.5% in the prior-year period.

“In the pharmacy department, we will continue to accelerate new pharmacy acquisitions and focus on our plan for EIRIS Health Services, Fred's specialty pharmacy unit, which is experiencing solid script and sales growth in this fast-expanding segment of the pharmacy industry," noted Bruce Efird, Fred's CEO.

Fred's also plans to implement its reconfiguration plan in 60 to 80 stores with the Hometown Auto & Hardware department and seasonal expansions.

The decline in sales was credited to weather, as "extreme cold temperatures, ice and snow across the southeast during February were major factors behind the lower-than-expected comparable store sales for the month," Efird said. "Like January, this weather disrupted consumer shopping trends, resulting in store closings and reduced operating hours at a significant number of our locations. Despite the weather, we continued to see positive comparable store sales during February in the Hometown Auto & Hardware, pet and pharmacy departments."

During February, Fred's opened two new pharmacies within existing stores.

 

 

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