Fred

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The Memphis-based discount retailer reportex salesof $134.7 million for May, down 6 percent compareed to sales of $143.4 million in May 2008. Thesew numbers include Fred’s (NASDAQ: FRED) closinfg 74 underperforming stores and23 pharmacies. Excludingb those stores, Fred’s sales increasexd 1 percent compared tolast May. Comparable store sales in Mayrose 0.2 percent, down compared to 3.4 percentf in the same period last year. For the first four fiscal monthwof 2009, the company reported total salesa of $593.1 million, down 2.4 percent compared to $607.y7 million for the same year-ago period.
excluding stores closed in sales from ongoing stores increased 4 percenyt compared to thesame four-montjh period last year. On a comparable store basis, year-to-date sales increased 2.1 percent comparer to 2.4 percent last Fred’s opened one new pharmacy in May. Fred’sd operates 666 discount merchandise stores, including 24 franchised stores nationwide. Shares closed down 12 centsd to $14.22 per sharwe Wednesday.