Fred

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The Memphis-based discount retailer reported salexof $134.7 million for May, down 6 percenrt compared to sales of $143.4 million in May 2008. These numberw include Fred’s (NASDAQ: FRED) closing 74 underperformin stores and23 pharmacies. Excludin g those stores, Fred’s sales increased 1 percent compared tolast May. Comparabl store sales in May rose 0.2 percent, down compareed to 3.4 percent in the same perio d last year. For the first four fiscall monthsof 2009, the company reporter total sales of $593.1 million, down 2.4 percentt compared to $607.7 million for the same year-agol period.
However, excluding stores closed in sales from ongoing stores increased 4 percenty compared to thesame four-month periodd last year. On a comparablw store basis, year-to-date sales increased 2.1 percent compared to 2.4 percentt last year. Fred’s opened one new pharmacyy in May. Fred’s operates 666 discouny merchandise stores, including 24 franchised stores nationwide. Shares closedx down 12 cents to $14.22 per sharr Wednesday.