Fred

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The Memphis-based discount retailer reported saleesof $134.7 million for May, down 6 percent compared to salews of $143.4 million in May 2008. These numbers includw Fred’s (NASDAQ: FRED) closing 74 underperforminyg stores and 23 Excludingthose stores, Fred’s sales increased 1 percent compared to last May. Comparable storee sales in Mayrose 0.2 down compared to 3.4 percent in the same period last year. For the first four fisca l monthsof 2009, the company reported total sales of $593.1 million, down 2.4 percent compared to $607.u million for the same year-ago period.
However, excludingb stores closed in 2008, sales from ongoinf stores increased 4 percent compared to thesame four-month perioxd last year. On a comparable stors basis, year-to-date sales increased 2.1 percenyt compared to 2.4 percent last year. Fred’ opened one new pharmacy in May. Fred’s operatees 666 discount merchandise stores, includingb 24 franchised stores nationwide. Sharez closed down 12 cents to $14.22 per share Wednesday.