Fred’s profit rises in Q2

Memphis -- Fred’s reported Thursday that net income for the quarter ended July 28 rose 19% to $6.1 million, compared with $5.1 million in the year-ago period.



Sales rose 4% to $470.8 million from $452.7 million, and same-store sales dipped 1%.



Profit results missed Wall Street expectations, and the discounter has lowered its full-year earnings forecast.