September sales up for Fred's

MEMPHIS Fred's September sales increased 2% for the five-week fiscal month.

Fred's total sales for the month were $169.5 million, up from $166.6 million in September 2009. Comparable-store sales were flat for the month versus an increase of 3.3% in the same period last year.

During September, Fred's opened four express pharmacy locations and closed seven stores.

"Our sales plan for September anticipated low comparable-store sales against last year's heavy demand for H1N1, seasonal flu vaccines and flu-related products," said Fred's CEO Bruce Efird. "Importantly, customer traffic continued to strengthen during September, with our Core 5 program driving improved sales and margin mix. As a result, Fred's performance through the first two months of the quarter is in line with our plans, and we remain confident about our financial guidance for the third quarter."

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