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News Breaks
February 6, 2014
07:53 EDTFREDFred's reports adjusted January SSS down 1.8%
The company said, "On an adjusted basis, SSS decreased 1.8% in January versus flat comparable store sales in the year-earlier period. The Q4 SSS, on an adjusted basis, increased 0.1% compared with a decrease of 2.8% in the prior-year period. The weather was a significant challenge for us in January. It not only disrupted consumer shopping patterns, but also resulted in more than 120 store closings during the final week of the month. Prior to the last week of January, sales were running in the mid-range of our forecast, with reconfiguration departments leading the way. In the final week of the month, comparable store sales dropped into the negative double digits, culminating in a weather effect on comparable store sales for all of January that is estimated at more than 300 basis points."
News For FRED From The Last 14 Days
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March 26, 2015
07:50 EDTFREDFred's sees Q1 EPS 0c-3c, consensus 26c
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07:48 EDTFREDFred's sees FY15 EPS 50c-58c, consensus 61c
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07:47 EDTFREDFred's reports Q4 EPS 2c ex-items, consensus 1c
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March 25, 2015
19:06 EDTFREDFred's names Bryan Pugh Chief Merchandising and Marketing Officer
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10:04 EDTFREDFred's to acquire Reeves-Sain Drug Store and EntrustRx specialty pharmacy
Fred's announced that it has signed an agreement to acquire Reeves-Sain Drug Store, a private specialty and retail pharmacy company based in the greater Nashville, Tennessee area. The acquisition includes both EntrustRx, a specialty pharmacy operation that has a strong regional presence in the Southeast serviced from facilities in Spring Hill, Tennessee and Columbus, Mississippi, as well as the single Reeves-Sain retail pharmacy in Murfreesboro, Tennessee. Under the terms of the agreement, Fred's will acquire EntrustRx and the Reeves-Sain retail pharmacy for approximately $66M, comprising $53M in cash and a $13M note payable. Fred's expects to utilize available cash and borrowings under its revolving loan and credit agreement to fund the transaction, which is expected to close in April 2015 subject to customary closing conditions. Fred's anticipates that the deal will be accretive to earnings per share in the first full year following closing.

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