Last $16.77 USD
Change Today -0.17 / -1.00%
Volume 755.3K
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As of 4:30 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

fred's inc-class a (FRED) Key Developments

Fred's, Inc. Reports Sales Results for the Month and Year-To-Date Ended November 29, 2014

Fred's, Inc. reported sales results for the month and year-to-date ended November 29, 2014. The company reported, total sales for the month increased 2% to $154.3 million from $151.2 million in November 2013. Comparable store sales for the month decreased 2.3% versus flat sales in the same period last year. Total sales for the year-to-date period increased 2% to $1.620 billion from $1.595 billion for the same period last year. On a comparable store basis, year-to-date sales decreased 1.0% compared with an increase of 1.0% for the year-earlier period.

Update On Fred's Strategic Review

Fred's, Inc. (NasdaqGS:FRED) stated that after a comprehensive and diligent process, the company did not receive indications of interest that were satisfactory to the Board of Directors for a sale of the company. Fred's, Inc. continues to explore acquisitions and the recapitalization of the company, and both of these alternatives are ongoing.

Fred's to Open 4 New Stores and 10 to 15 Pharmacy Departments in the Fourth Quarter of 2015; Plans to Close 44 Stores and 16 to 21 Pharmacy Departments in the Full Fiscal Year of 2015

Fred's announced that in the fourth quarter of 2015, the company plans to open 4 new stores and 10 to 15 pharmacy departments. For the full fiscal year of 2015, this brings the estimated net store closings to 44 and net new pharmacy departments to a range of 16 to 21 or a penetration rate of 58% to 59%. The 47 ongoing store closures will be completed during the fourth quarter along with the closure of 1 pharmacy department.

Fred's, Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014; Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2015

Fred's, Inc. reported unaudited earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported net sales of $476,175,000 compared to $460,542,000 a year ago. Operating loss was $16,579,000 compared to operating income of $10,636,000 a year ago. Loss before income taxes was $16,686,000 compared to income before income taxes of $10,523,000 a year ago. Net loss was $10,523,000 or $0.28 basic and diluted per share compared to net income of $7,308,000 or $0.20 basic and diluted per share a year ago. For the third quarter of 2014, earnings before interest, taxes, depreciation and amortization, or EBITDA, a non-GAAP measure, decreased to a loss of $6.3 million or -1.3% of sales compared with a positive $21.3 million or 4.6% of sales in the year-earlier quarter. Excluding reserves and non-operational items, EBITDA was $0.5 million or 0.1% of sales. For the nine months, the company reported net sales of $1,465,624,000 compared to $1,444,213,000 a year ago. Operating loss was $32,691,000 compared to operating income of $33,633,000 a year ago. Loss before income taxes was $33,096,000 compared to income before income taxes of $33,256,000 a year ago. Net loss was $20,750,000 or $0.56 diluted per share compared to net income of $22,049,000 or $0.60 diluted per share a year ago. For the first nine months of 2014, EBITDA decreased to a loss of $2.4 million or -0.1% of sales compared with a positive $65.1 million or 4.5% of sales in the first nine months of 2013. Excluding reserves and non-operational items, EBITDA was $19.2 million or 1.3% of sales. In the fourth quarter of fiscal year 2015, the company expects total sales to increase in the range of 4% to 6%. Comparable store sales are expected to increase from flat to up 2.0%. The net loss per diluted share for the fourth quarter 2014 is forecasted to be in the range of $0.08 to $0.12 compared with earnings per diluted share of $0.11 in the fourth quarter last year. Excluding the costs of store closures in the fourth quarter and other non-operational costs of clearing low-productive inventory, operational earnings per share are expected to be flat to up $0.04.

Fred's, Inc. Declares Quarterly Cash Dividend, Payable on December 15, 2014

Fred's, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.06 per share. The dividend is payable on December 15, 2014, to shareholders of record as of December 4, 2014.

 

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Price/Sales 0.3x
Price/Book 1.5x
Price/Cash Flow 27.1x
TEV/Sales 0.3x
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