Discount retailer Fred's Inc. (FRED) said its comparable-store sales for May were down 0.5% compared with an increase of 1.3% a year ago. Monthly total sales increased 0.2% to $152.4 million from $152.1 million in May 2012.
For the first four months of fiscal 2013, Fred's total sales increased 0.2% to $653.9 million, from $652.6 million, while on a comparable store basis, year-to-date sales slid 1.1% versus a 0.1% increase for the year-earlier period.
The company's Chief Executive commented, "May comparable stores were consistent with the outlook we shared last week in connection with first quarter results. Unseasonal cool and wet weather in May continued to have a negative impact on lawn and garden merchandise, summer toys, and other seasonal departments. Additionally, the sales impact of the ongoing brand-to-generic conversion in the pharmacy department more than offset continued growth in script counts. We estimate that this shift reduced total and comparable store sales for the month by approximately 200 basis points."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.