Fred's Reports July Sales up 1.2% on a Comparable Store Basis

Fred's, Inc. FRED today reported sales for the four-week fiscal month, second quarter and six-month period ended July 28, 2012. Fred's total sales for the month increased 5% to $136.7 million from $129.7 million in July 2011. Comparable store sales for the month increased 1.2% versus a decrease of 0.5% in the same period last year. Fred's total sales for the second quarter of fiscal 2012 increased 4% to $470.7 million compared with $452.7 million for the same period last year. On a comparable store basis, second quarter sales decreased 1.0% compared with a decline of 0.4% in the same period last year. Fred's total sales for the first six months of fiscal 2012 also increased 4% to $971.2 million compared with $937.1 million for the same period last year. On a comparable store basis, year-to-date sales decreased 0.5% versus an increase of 0.4% in the same period last year.