Fred's August Comps Up 2.3% - Quick Facts

(RTTNews) - Fred's Inc. (FRED) reported that Comparable store sales for the month of August 2014 increased 2.3% compared with flat store sales in the same period last year. Monthly total sales grew 6% to $147.6 million from $139.4 million last year.

Fred's total sales for the year-to-date period increased 1% to $1.137 billion from $1.123 billion for the same period last year. On a comparable store basis, year-to-date sales decreased 0.6% versus an increase of 0.5% for the year-earlier period.

Bruce Efird, Chief Executive Officer, said, "Going forward in the third quarter, we will continue to transform Fred's based on the convenience/pharmacy-centric model we recently outlined, a strategy that brings clear advantages to our store operations and customers."