Freddy's Frozen Custard & Steakburgers

Memphis, Tenn. -- Discount-store operator Fred's Inc. said Wednesday that its same-store sales increased 1.2% during the four weeks ended July 28, helped by markdowns that increased customer traffic. The company also raised its earnings guidance for the second quarter, citing a tax settlement with the state of Tennessee.

Total sales for the month rose 5% to $136.7 million.

MEMPHIS, Tenn. — May sales at Fred's Inc. increased 6% to $152.1 million from $143.6 million in May 2011. Comparable-store sales for the month rose 1.3% compared with an increase of 0.2% in the same period last year.

Fred's total sales for the first four months of fiscal 2012 increased 4% to $652.6 million compared with $628 million for the same period last year. On a comparable-store basis, year-to-date sales increased 0.1% on top of an increase of 0.8% in the same period last year.

Memphis, Tenn. -- Fred's Inc. reported Thursday that profit for the quarter ended April 28 rose 9.9% to $10.5 million, compared with $9.5 million in the year-ago period.

Revenue increased 3.3% to $500.5 million, edging Wall Street’s expected $500.3 million, but same-store sales dipped 0.4%.

The company opened three new regular stores and four express pharmacy stores during the quarter, as part of its plan to open 22 to 28 stores this year.
 

New York City -- BJ’s Wholesale Club, Costco and Target all beat Wall Street expectations in August, helped by consumers seeking out emergency supplies and clean-up items as they prepared for and then dealt with Hurricane Irene.

BJ's Wholesale Club’s same-store sales jumped 11.5% in August, beating analysts' predictions for a 7.8% increase. The retailer said that gasoline sales contributed about 3.6 percentage points to the increase, and hurricane-related sales contributed another 2.5 to 3 percentage points.

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

MEMPHIS, Tenn. — Fred's net income increased 16% to $9.5 million, or 24 cents per diluted share, compared with net income of $8.2 million, or 21 cents per diluted share in the year-earlier period.

The retailer said that total sales rose 3% to $484.4 million from $471.6 million for the same period last year. For comps, Fred's reported a 1% rise on top of a 2.2% increase for the first quarter last year.

Fred's gross profit for first quarter 2011 increased 1% to $137.9 million from $136.9 million in the prior-year period.

New York City -- Retailers reported strong April sales that were boosted by the late Easter holiday, which fell on April 24, three weeks later than last year. Same-store sales rose 8.9% at the 25 retailers tracked by Thomson Reuters, compared with expectations for an 8.2% increase. But the good news was tempered as retailers acknowledged that shoppers are under increasing pressure from rising gas prices and other cost increases.

MEMPHIS, Tenn. -- In yet another example of how discount stores are dominating the retail industry these days, Fred's Inc. reported strong earnings and sales growth for its fiscal fourth quarter. The company reported fourth-quarter net income of $8.6 million, or 22 cents per diluted share, a 49% increase over last year's reported net income of $5.8 million or 15 cents per diluted share. For the year ended Jan.