Fred's, Inc. Reports Sales Results for the Four-Week Ended October 2014, Third Quarter and Nine-Month Ended November 1, 2014; Provides Earnings Guidance for the Third Quarter of 2014
Total sales for the third quarter ended November 1, 2014 were $476.1 million, up 3.4% from $460.5 million in the same period last year. Comparable store sales for the quarter increased 0.3% on top of an increase of 1.4% in the third quarter of 2013.
The company's total sales for the nine months ended November 1, 2014 increased 1.5% to $1.465 billion from $1.444 billion for the same period last year. On a comparable store basis, year-to-date sales decreased 0.5% compared with an increase of 1.1% for the year-earlier period.
The company now expects a net loss for the third quarter of $0.12 to $0.16, excluding any special charges related to store closings.