Fred's February Comps. Up 0.8%; Total Sales Increase 12% - Quick Facts

(RTTNews) - Fred's Inc. (FRED) reported that its comparable store sales for the month of February rose 0.8% compared to flat comparable store sales for the year-earlier period.

Total sales for the month increased 12% to $171.1 million from $153.2 million in February 2015.

Jerry Shore, Chief Executive Officer, said, "During February, we began the 2016 new prototype remodel program with five stores, a monthly pace we expect to maintain throughout most of the year. We also saw strong performance from the improvements made in 25 stores that benefited from competitive store closings during the month. We will provide more detail on our initiatives during our fourth quarter earnings conference call on March 23."