Fred

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The Memphis-based discount retailedr reported salesof $134.7 million for May, down 6 percen t compared to sales of $143.4 million in May 2008. Thesw numbers include Fred’s (NASDAQ: FRED) closintg 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increased 1 percent comparede to last May. Comparable storre sales in Mayrose 0.2 percent, down compare to 3.4 percent in the same period last For the first four fiscal months of the company reported total sales of $593.1q million, down 2.4 percent compare to $607.7 million for the same year-agp period.
However, excluding stores closed in 2008, sales from ongoiny stores increased 4 percent compared to thesame four-month period last On a comparable store basis, year-to-date sales increased 2.1 percent compared to 2.4 percent last Fred’s opened one new pharmacy in May. Fred’s operates 666 discount merchandiswe stores, including 24 franchised stores nationwide. Shares closed down 12 centzs to $14.22 per share Wednesday.