Fred's Super Dollar on Thursday announced the company will implement a new long-term marketing strategy stressing everyday low pricing and the convenience of a smaller box to help bolster sales against what the company describes as "intense competitive pressures."
Fred's Super Dollar will be exiting a number of front-end categories — including footwear, televisions/home theater and select home furnishings — in an effort to expand seasonal, health, beauty, pharmacy and OTC, in line with reconfiguration plan strategies, Fred's CFO Jerry Shore told analysts Thursday.
Fred's Super Dollar on Thursday posted sales of $495.1 million for the fourth quarter ended Feb. 1, representing an increase of 0.5% on an adjusted basis (fiscal 2012 fourth quarter was 14 weeks vs. 13 weeks in fiscal 2013).
Fred's Super Dollar on Wednesday reported a 1% increase in total sales, to $151.5 million, for the four weeks ended Nov. 30. Comparable-store sales for the month were flat versus a decline of 3.6% in the same period last year.