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Fred’s Q4 profits down; to accelerate pharmacy expansion
Memphis -- Fred's Inc. said Thursday that its fourth-quarter net income decreased 33% amid higher operating costs and restrained consumer spending. The discounter’s forecast for this year also fell below analyst expectations.
Net income for the three months ended Feb. 2 fell to $6.6 million, compared to $9.8 million the year before.
Revenue increased 7%, to $533.4 million, also below analysts’ expectations. Same-store sales were up 4.8%.
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Cache.com engages SLI Systems to implement site search
San Jose, Calif. -- SLI Systems said Wednesday that Cache has implemented its full-service Learning Search solution for Cache.com, resulting in an 88% increase in the conversion rate among site search users.
The company, said SLI, has also seen a 42% increase in site search usage by its online visitors, driving more sales and revenues.