Fred's sales for February decline by 2%.
M2 EQUITYBITES-March 6, 2015-Fred's sales for February decline by 2%
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Fred's Inc (Nasdaq:FRED), an operator of discount general merchandise stores, on Thursday reported adjusting of sales for the four-week month of February 2015, the first month of fiscal 2015, which ended 28 February 2015.
According to Fred's, total sales reflect the net closing of 62 locations in 2014 under its reconfiguration plan.
Reportedly, excluding February 2014 sales of USD7.4m from those closed locations, total sales increased 3% for the month. Fred's total sales for February 2015, not adjusting the closed stores, decreased 2% to USD154.1m, as compared with USD157.4m in February 2014.
Also, comparable store sales for the month were approximately flat, as compared with a 2.2% decline in February 2014.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Mar 6, 2015|
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