Fred's Sept. Comps. Up 2.8% - Quick Facts

(RTTNews) - Discount retailer Fred's Inc.'s (FRED) September comparable-store sales advanced by 2.8% versus a 3.8% drop in the prior year, reflecting ongoing positive trends in its general merchandise and pharmacy departments. Five-week total sales went up 4% to $177.3 million, from $170.9 million in September 2012.

For the year-to-date period, Fred's total sales were $1.30 billion, up 1% from the prior-year figure of $1.28 billion. On a comparable store basis, year-to-date sales rose 0.8% versus a 1.2% decline a year before.

The company said in a statement, "We continue to experience success from our reconfiguration plan, as the pharmacy department comparable store sales and script growth were key to this month's performance." The firm also remains confident that the third-quarter earnings would lie within the prior forecasted range.