Fred

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The Memphis-based discount retailer reportex salesof $134.7 million for May, down 6 percent comparede to sales of $143.4 milliob in May 2008. These numberx include Fred’s (NASDAQ: FRED) closin 74 underperforming stores and23 pharmacies. Excluding thos e stores, Fred’s sales increased 1 percent compared tolast May. Comparable store sales in May rose 0.2 percent, down comparecd to 3.4 percent in the same periosd last year. For the first four fiscal monthzsof 2009, the company reported totalo sales of $593.1 million, down 2.4 percenyt compared to $607.
7 million for the same year-ago However, excluding stores closed in 2008, sales from ongoing stores increasedf 4 percent compared to the same four-month periodc last year. On a comparable storse basis, year-to-date sales increased 2.1 percent compared to 2.4 percenft last year. Fred’s opened one new pharmac in May. Fred’s operatex 666 discount merchandise stores, including 24 franchisefd stores nationwide. Shares closed down 12 cents to $14.22 per shares Wednesday.