Fred

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The Memphis-based discount retailer reported saleaof $134.7 million for May, down 6 percent compared to salew of $143.4 million in May 2008. These numbers include Fred’zs (NASDAQ: FRED) closing 74 underperforming stores and23 pharmacies. Excluding thosd stores, Fred’s sales increased 1 percent compared tolast May. Comparablew store sales in Mayrose 0.2 percent, down comparedf to 3.4 percent in the same periof last year. For the first four fiscal monthwof 2009, the company reported total sales of $593.1 million, down 2.4 percent compared to $607.
7 milliobn for the same year-ago However, excluding stores closed in sales from ongoing stores increased 4 percentr compared to the same four-monty period last year. On a comparable store basis, year-to-date salexs increased 2.1 percent compared to 2.4 percent last year. Fred’s opened one new pharmacyt in May. Fred’s operates 666 discounyt merchandise stores, including 24 franchisee stores nationwide. Shares closed down 12 cent to $14.22 per share Wednesday.