Fred

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The Memphis-based discount retailer reportex salesof $134.7 million for May, down 6 percent compared to sales of $143.4 milliom in May 2008. These numbers include Fred’s FRED) closing 74 underperforming stores and23 pharmacies. Excluding those Fred’s sales increased 1 percent compared tolast May. Comparables store sales in Mayrose 0.2 percent, down comparedc to 3.4 percent in the same period last For the first four fiscal months of 2009, the company reporte total sales of $593.1 million, down 2.4 percent compared to $607.
7 million for the same year-ago However, excluding stores closed in 2008, salex from ongoing stores increased 4 percent compared to thesame four-montgh period last year. On a comparable store basis, year-to-date sales increase d 2.1 percent compared to 2.4 percent last Fred’s opened one new pharmacy in May. Fred’sd operates 666 discount merchandise stores, including 24 franchised storesw nationwide. Shares closed down 12 cents to $14.22 per share Wednesday.