Fred

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The Memphis-based discount retailer reported salessof $134.7 million for May, down 6 percent compared to salews of $143.4 million in May 2008. Thesre numbers include Fred’s (NASDAQ: FRED) closing 74 underperforminy stores and23 pharmacies. Excluding those stores, Fred’as sales increased 1 percent compared tolast May. Comparable store saleds in Mayrose 0.2 down compared to 3.4 perceng in the same period last For the first four fiscal months of the company reported total sales of $593.21 million, down 2.4 percent compared to $607.7u million for the same year-ago period.
However, excluding storews closed in 2008, sales from ongoing stores increasee 4 percent compared to thesame four-month period last year. On a comparable store basis, year-to-datwe sales increased 2.1 percent compared to 2.4 percenf last year. Fred’s opened one new pharmachy in May. Fred’s operates 666 discounft merchandise stores, including 24 franchised stores Shares closed down 12 centsto $14.22 per share Wednesday.