$FRED (Fred's, Inc.)

$FRED {{ '2016-05-26T15:00:38+0000' | timeago}} • Webcast

In 1Q16, $FRED had Capex of $4.6MM. Traffic was down 1.8% while ticket was up 2.8%. The company saw brand inflation of 11.4% and generic deflation of 1.2% for a net inflationary increase of 5.2%.

$NLSN {{ '2017-06-26T12:43:44+0000' | timeago}} • Announcement

$NLSN and $FRED expanded their long-term relationship with the renewal of data insights and analytics services. With this agreement, Nielsen will become the exclusive data provider for all 601 fred's stores in 15 states across the southeastern US, as well as future stores.

$FRED {{ '2017-06-06T13:30:13+0000' | timeago}} • Webcast

$FRED remodeled 44 stores in 1Q17 and expects to accelerate that in back half of 2017. The company expects to remodel around 25 Front Stores in the back half of the year.

$FRED {{ '2017-06-06T12:57:05+0000' | timeago}} • Webcast

$FRED is collaboratively working with $WBA, $RAD and Federal Trade Commission to obtain the FTC's approval of the divestiture of certain Rite Aid assets to Fred's Pharmacy in connection with Walgreen's pending acquisition of Rite Aid. The company is committed to purchasing additional assets, including up to 1,200 Rite Aid stores.

$FRED {{ '2017-06-06T12:56:11+0000' | timeago}} • Webcast

$FRED, which agreed to acquire 865 $RAD stores and certain assets in an $950MM deal in Dec. 2016,  closed underperforming stores and write off discontinued merchandise in 1Q17. The company said that it is on track with 2017 plan and expects to be profitable on an operational basis by the end of FY17.

$FRED {{ '2017-06-06T11:24:32+0000' | timeago}} • Announcement

Comparable store sales for $FRED declined 1.2% in 1Q17 versus an increase of 1.0% last year. Comparable store sales in the first quarter included a negative 1.4% impact as a result of the sale of low productive discontinued inventory versus the first quarter of 2016.

$FRED {{ '2017-06-06T11:22:03+0000' | timeago}} • Announcement

Net sales for 1Q17 slipped 3.1% to $532.3MM for $FRED, with the pharmacy chain falling to a net loss of $36.5MM or $0.98 per share from last year's net profit of $1.3MM or $0.03 per share.

$FRED {{ '2017-06-01T15:28:50+0000' | timeago}} • Announcement

$FRED reported total sales for the month of May 2017 of $160.1MM, down 3.1% from $165.2MM last year. The decrease is related to the closure of 39 underperforming stores in 1Q17. Comparable store sales for the month increased 0.8%, which included a negative 1% impact as a result of sale of low productive discontinued inventory.

$FRED {{ '2017-05-04T18:34:24+0000' | timeago}} • Announcement

$FRED reported total sales for the month of April 2017 of $159.1MM, down 3% from $163.9MM last year. Comparable store sales for the month increased 1.2% and reflected double digit growth for Easter seasonal categories. For 1Q17, sales declined 3% to $532.9MM and comparable store sales decreased 1.2%.

$FRED {{ '2017-04-24T20:53:40+0000' | timeago}} • Announcement

$FRED appointed Steven Rossi, CEO of Digital First Media, and Timothy Barton, former CEO of Freightquote.com, to its BoD, effective immediately. As a result, following the conclusion of 2017 annual meeting the newly reconstituted board will be comprised of 9 directors, 8 of whom are independent.

$FRED {{ '2017-04-06T13:25:15+0000' | timeago}} • Announcement

$FRED appointed Linda Longo-Kazanova to its BoD, effective immediately. Steven Fitzpatrick will retire from the Board and not stand for reelection at the 2017 Annual Meeting of Shareholders. This announcement is part of the Board's ongoing reconstitution process, with the assistance of Spencer Stuart to add directors to the Board.

$FRED {{ '2017-04-06T13:02:22+0000' | timeago}} • Webcast

$FRED said that regarding the hires, the company is pleased with the hires it has made. Additionally, the company is always looking to upgraded talent and would continue to develop the talent. The company added that it won't be stopping on hiring, but will be upgrading on talent being a retailer.

$FRED {{ '2017-04-06T12:58:01+0000' | timeago}} • Webcast

In specialty pharmacy, $FRED sales grew double digit in 2H16 vs. 1H16, which was driven mainly by internal reorganization and geographic expansion. In 2017, the company is focused on retail and specialty pharmacy, healthcare services, and reducing inventory and expenses through the business, which ultimately would help improve $FRED cash flow.

$FRED {{ '2017-04-06T12:47:25+0000' | timeago}} • Webcast

$FRED expects to continue to incur a number of charges in 1Q18, same as the ones incurred in 4Q17 like acquisition integration, store closures and valuation allowances. Absent these charges, the company expects sequential improvement in company's core quarterly EPS in 2017.

$FRED {{ '2017-04-06T12:18:52+0000' | timeago}} • Announcement

Discount retail store chain $FRED plunged into loss during 4Q16 as the company incurred after tax charge of $23.4MM. The net loss widened to $22.5MM, or $0.60 per share, compared to net loss of $3.9MM, or $0.11 per share during 4Q15. Net sales fell 4.5% YoY to $529.7MM from $554.6MM. $FRED's comparable store sales fell 3.6% during 4Q16.

$FRED {{ '2017-03-07T20:18:47+0000' | timeago}} • Announcement

$FRED appointed Christopher Bodine, Peter Bocian and Michael Bloom to its BoD, effective immediately. In connection with this, Michael Hayes, John Eisenman and Jerry Shore will retire from the Board and not stand for reelection at the 2017 Annual Meeting of Shareholders.

$FRED {{ '2017-02-16T19:20:33+0000' | timeago}} • Announcement

$FRED BoD declared a quarterly cash dividend of $0.06 per share. The dividend is payable on March 15, 2017, to shareholders of record as of March 1, 2017.

$FRED {{ '2017-02-14T11:42:03+0000' | timeago}} • Announcement

$FRED said Gregory Froton has been appointed Senior Vice President, Merchandising, General Merchandise and Kimberley Felice-Dooley has been promoted to Senior Vice President, Merchandising - Consumables, both effective immediately.

$FRED {{ '2017-02-02T20:01:22+0000' | timeago}} • Announcement

$FRED reported total sales for 4Q16 fell 4.3% YoY to $530.7MM. On a comparable store basis, 4Q16 sales decreased 3.6% versus an increase of 1.7% during 4Q15. During FY16,total sales decreased 1.1% YoY to $2.126Bil and on a comparable store basis FY16 sales fell 2.2% versus increase of 1.5% in 4Q15.

$WBA {{ '2017-01-05T12:35:29+0000' | timeago}} • Announcement

$WBA continues to expect the $RAD acquisition to be accretive to its adjusted EPS in the first full year after closing of the transaction, after taking into account the expected divestitures of 865 $RAD stores and certain assets to $FRED. $WBA will realize synergies in excess of $1Bil, to be fully realized within 3-4 years of closing.

$FRED {{ '2016-12-20T16:14:30+0000' | timeago}} • Announcement

$FRED signed an agreement with $WBA and $RAD to buy 865 stores and certain assets related to store operations located across the eastern and western U.S. for $950MM in cash. Closing of the transaction is expected to take several months after $WBA's proposed acquisition of $RAD is completed.

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