Fred's Q3 profit rises 16%

Memphis, Tenn. -- Discounter Fred's Inc. reported Tuesday that profit for the third quarter rose 16% to $9 million, compared with $7.8 million a year earlier.



Revenue increased 2% to $444.4 million from $435 million last year, missing Wall Street’s expected $446.5 million in revenue.



Same-store sales rose 1.5%.