Fred's, Inc. announced unaudited earnings results for the fourth quarter and year ended February 2, 2019. For the quarter, the company net sales of $307,092,000 compared to $370,865,000 a year ago. Net income was $68,728,000 compared to loss of $32,392,000 a year ago. Net loss per share from continuing, basic and diluted was $1.86 compared to $0.68 a year ago.

For the year, the company net sales of $1,271,746,000 compared to $1,395,845,000 a year ago. Net loss was $12,967,000 compared to $150,185,000 a year ago. Net loss per share from continuing, basic and diluted was $3.76 compared to $3.87 a year ago.

For the quarter, the company reported impairment of asset of $31,737,000 compared to $2,489,000 a year ago.