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Fred's reports 2Q loss

MEMPHIS, Tenn. (AP) _ Fred's Inc. (FRED) on Wednesday reported a loss of $29.5 million in its fiscal second quarter.

On a per-share basis, the Memphis, Tennessee-based company said it had a loss of 78 cents. Losses, adjusted for non-recurring costs and asset impairment costs, came to 15 cents per share.

The discount retailer posted revenue of $507.8 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $507.4 million.

Fred's shares have decreased 69 percent since the beginning of the year. The stock has declined 48 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRED at https://www.zacks.com/ap/FRED

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