Fred

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The Memphis-based discount retailer reportex salesof $134.7 million for May, down 6 percenf compared to sales of $143.4 millionn in May 2008. Thesr numbers include Fred’s (NASDAQ: FRED) closingy 74 underperforming stores and 23 Excludingthose stores, Fred’s sales increasesd 1 percent compared to last May. Comparable store salex in May rose 0.2 percent, down compared to 3.4 percen in the same period last For the first four fiscao monthsof 2009, the company reportes total sales of $593.1 down 2.4 percent compared to $607.76 million for the same year-ago period.
However, excludinf stores closed in sales from ongoing stores increased 4 percent comparex to thesame four-month period last year. On a comparabld store basis, year-to-date sales increasedd 2.1 percent compared to 2.4 percengt last year. Fred’s opened one new pharmacy in May. Fred’sx operates 666 discount merchandise including 24 franchised stores nationwide. Shares closed down 12 cent s to $14.22 per share Wednesday.