2.60 -0.05 (-1.87%)
After hours: 4:19PM EST
|Bid||2.00 x 1100|
|Ask||2.65 x 800|
|Day's Range||2.5300 - 2.7200|
|52 Week Range||1.3000 - 4.3100|
|Beta (3Y Monthly)||-0.84|
|PE Ratio (TTM)||N/A|
|Earnings Date||Dec 13, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
MEMPHIS, Tenn., Dec. 04, 2018 -- Fred's, Inc. (NASDAQ: FRED) will hold a conference call on Thursday, December 13, 2018, at 8:00 a.m. Eastern time to discuss its financial.
Moving trucks are headed to Fred’s HQ. It's been speculated that Fred's Inc. will soon be moving to Dallas, and now the headquarters for the Memphis-based general merchandise and pharmacy chain is a featured property listing in Colliers International’s Q4 Market News. Located at 4300 New Getwell Road, the Colliers report shows a “contract pending” for the sale of the Fred’s building, which totals more than 1 million square feet.
Fred’s is continuing to offload its pharmacy inventory and patient prescription files to Walgreens. The discount merchandise and pharmacy chain announced in September it had entered into a multimillion-dollar deal with Walgreens Boots Alliance Inc., which would allow Walgreens to purchase prescription files, related data and records, pharmacy inventory, and other assets for 185 stores. The money from Walgreens will be used to pay down Fred’s “existing indebtedness” and for “general corporate purposes.” The following update was provided in a Nov. 27 filing with the U.S. Securities and Exchange Commission (SEC): The biggest question now facing Fred’s: How long will the “Memphis-based” public company remain in the Mid-South?
Speaking truth to power, the importance of the Fourth Estate to a functioning democracy, the idea of bearing witness — none of that matters to Freeman and his fellow hedgies at Alden Global. It’s now 20 years since the renovation, and the building is getting a little long in the tooth.
NEW YORK, Nov. 06, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
With the home of Fred’s future HQ in question, city, county and state officials are trying to intervene.
New York hedge fund Alden Global Capital LLC owns 13 million shares of the Memphis-based general merchandise and retail chain, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). With its most recent purchase for 845,000 shares on Oct. 29 — at an average share price of $2.53 — Alden has a 34.9 percent stake in Fred's Inc. In early October, a committee of Fred’s independent directors approved Alden to buy up to 3,725,000 additional shares. At the time of that approval, Alden had about 9.3 million shares.
Based on its online presence, a Tennessee-based company that reported $1.8 billion in revenue last year may have its sights set on a relocation to downtown Dallas.
Alden Global Capital’s piece of the Fred’s pie continues to grow. A special committee of independent directors for the Memphis-based general merchandise and pharmacy chain, Fred’s Inc.’s, recently approved the company’s largest shareholder to purchase millions of additional shares. Since that Oct. 10 approval, the New York-based hedge fund, Alden Global Capital LLC, has done just that.
In 2017, the three highest-paid public company execs earned nearly $50 million combined. Today, one of those executives is no longer with their company, representing a recent popular trend. ServiceMaster has seen a good bit of C-suite turnover, with execs claimed five of the 16 spots, according to Memphis Business Journal research.
The more than 50 current and former executives at Memphis-based public companies earned $180 million in total compensation in 2017.
NEW YORK, Oct. 15, 2018 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
The Memphis-based general merchandise and pharmacy chain announced Oct. 10 it plans to extend its current cooperation agreement with Alden Global Capital LLC as well as let Alden purchase up to 3,725,000 additional shares. Alden, a New York-based hedge fund, currently holds a roughly 25 percent stake in Fred’s — nearly 9.3 million shares. The second-largest shareholder is NWQ Investment Management Co. LLC with a 7.4 percent stake, or about 2.8 million shares, according to the Bloomberg Terminal.
MEMPHIS, Tenn., Oct. 10, 2018 -- Fred’s, Inc.(“Fred’s” or the “Company”) (NASDAQ:FRED) today announced that the Company has reached an agreement to extend the cooperation.
On a per-share basis, the Memphis, Tennessee-based company said it had a loss of 88 cents. Losses, adjusted to account for discontinued operations, were 62 cents per share. The discount retailer posted ...
MEMPHIS, Tenn., Sept. 13, 2018-- Fred's, Inc. reported financial results for the second quarter and six months ended August 4, 2018.. Second Quarter Fiscal 2018 vs. Net sales down 4.3% to $419.7 million ...
and United Rentals were two stocks flying higher on Monday on separate positive developments. Fred's, Inc. was one of the biggest gainers in the stock market yesterday, closing the day up with a gain of 81.65% on staggering volume compared to usual. The company saw its shares explode after it announced that it has entered into a definitive asset purchase agreement, pursuant to which Walgreens will acquire pharmacy patient prescription files and related pharmacy inventory of 185 Fred’s stores located across 10 Southeastern states.
The deal between Fred’s (NASDAQ:FRED) and Walgreens will have the latter buying up the patient information and pharmacy inventory from 185 locations owned by the former. Walgreens will be paying a total of $165 million for the patient information of Fred’s customers. Fred’s intention to sell off the patient information and pharmacy stock of 185 stores will have it greatly reducing the number of pharmacies that it operates.
Walgreens will purchase files and related pharmacy inventory of 185 Fred's stores across 10 Southeast states. Walgreens will pay Fred's $165 million, subject to adjustment, plus an amount equal to the value of related pharmacy inventory. Shares of Fred's FRED surged 63 percent Monday after it announced it will sell some pharmacy files to Walgreens WBA for at least $165 million.