Fred's May Comps. Up 0.3%; Total Sales Rise 10% - Quick Facts

(RTTNews) - Fred's Inc. (FRED) reported that its Comparable store sales for the month of May 2015 increased 0.3% compared with a 0.4% decrease in the same period last year.

Fred's total sales for the month of May increased 10% to $166.9 million from $151.4 million in May 2014, reflecting the first full month sales contribution from the Company's recent acquisition of the EntrustRx specialty pharmacy operations. Excluding $6.1 million from last year's May sales for 56 closed locations, total sales increased 15% for the month.

Fred's total sales for the first four months of fiscal 2015 increased 4% to $676.0 million compared with $649.7 million for the same period last year. Excluding sales of $27.9 million from closed stores in 2014, total sales increased 9% for the first four months of 2015. On a comparable store basis, year-to-date sales increased 0.6% versus a 1.5% decrease for the year-earlier period.

Commenting on the announcement, Jerry A. Shore, Chief Executive Officer, said, " We anticipate June sales to reflect the benefit of this calendar shift. This progress sets the stage for a cycle of double-digit sales growth for the Company for the remainder of the year."