|Bid||0.4400 x 800|
|Ask||0.4400 x 800|
|Day's Range||0.4340 - 0.4763|
|52 Week Range||0.4300 - 3.5800|
|Beta (3Y Monthly)||0.96|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 12, 2019 - Jun 17, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
Fred’s Inc. said Thursday it will close another 104 stores by the end of June, with liquidation sales beginning immediately, as the discount retailer continues its restructuring efforts.
Shares of Fred's Inc. tumbled 6.8% in premarket trade Thursday, after the discount retailer said it was closing an additional 104 stores, and that it entered into a forebearance agreement with its lenders. The company said liquidation sales at the stores being closed will begin Thursday, with the closures expected to be completed by the end of June. The additional store closures comes a month after the company said it will close 159 stores by the end of May, leaving 398 stores open at that time. "These additional store closures are a difficult, but necessary step in the continued restructuring of Fred's," said Chief Executive Joseph Anto. The stock, which has closed below the $1 threshold since May 6, has plunged 69% year to date through Wednesday, while the SPDR S&P Retail ETF has gained 4.8% and the S&P 500 has advanced 14%.
MEMPHIS, Tenn., May 16, 2019 -- Fred’s, Inc. (NASDAQ: FRED) today announced it will begin to close an additional 104 underperforming stores as part of an ongoing effort to.
After a dismal earnings report, Fred’s stock is in the danger zone. The Memphis-based general merchandise retailer held its fourth quarter and full-year earnings call May 6, reporting that net sales were down 17.
In December 2016, with stock prices nearing $19, Alden Global Capital became Fred’s largest shareholder. Today, the New York hedge fund has continued to expand its control while the company’s emaciated stock sits below $1.
During the call — which lasted about 10 minutes — Joe Anto, CEO of Fred’s, said the fourth quarter was “challenging” and that front store sales had dropped significantly versus Q4 2017. Fred's second distribution center is a 600,000-square-foot facility located in Dublin, Georgia, that services 271 stores.
On a per-share basis, the Memphis, Tennessee-based company said it had profit of $1.91. Losses, adjusted to account for discontinued operations, were $1.86 per share. The discount retailer posted revenue ...
MEMPHIS, Tenn., May 06, 2019 -- Fred’s, Inc. (NASDAQ: FRED) reported financial results for the fourth quarter and fiscal year ended February 2, 2019. Except as otherwise noted,.
MEMPHIS, Tenn., May 03, 2019 -- Fred's, Inc. (NASDAQ: FRED) will hold a conference call on Monday, May 6, 2019, at 8:00 a.m. Eastern Time to discuss its financial results for.
Discount retailer Fred’s Inc. is cutting prices even more, as 159 stores have begun “liquidation sales” Thursday ahead of their closings by the end of May.
The Memphis, Tennessee-based company said in a statement that it had begun liquidation sales at 159 stores with the goal of closing the underperforming and unprofitable outlets by the end of May. The company said 398 other stores will remain open. to sell the pharmacy patient prescription files and related pharmacy inventory of 179 Fred's stores located across 10 Southeastern states.
The board of directors for Fred’s Inc. has approved the closure of 159 “underperforming stores.” According to an April 11 U.S. Securities and Exchange Commission (SEC) filing from the Memphis-based discount retail chain, "The decision to close these stores is the result of a comprehensive evaluation of the company’s store portfolio, which examined historical and recent store performance and the timing of lease expirations, among other factors." The 159 stores are expected to close by the end of May. The closure list, that includes multiple Mid-South stores, can be found at the end of the article. The SEC filing goes on to state: In conjunction with today’s SEC filing, Fred’s also issued a press release that stated it had retained financial advisory firm PJ Solomon April 10 to “evaluate strategic alternatives to maximize value for all shareholders.” PJ Solomon will review Fred’s operating plan and strategic alternatives.
Fred's Inc said on Thursday it would close at least 159 underperforming and unprofitable stores, or nearly 30 percent of its total number of outlets, as the discount retailer works to turnaround its struggling business. The company also said it is continuing to pursue the sale of its remaining pharmacy assets following the sale of patient prescription files and related pharmacy inventory from 179 Fred's stores to drugstore chain Walgreens Boots Alliance Inc .
Shares of discount retailer Fred's Inc. jumped 5.7% in Thursday premarket trading after it said it will start liquidation sales at 159 stores that it is shuttering, part of a strategy to turn around the struggling company. The stores that are scheduled to shutter had expiring leases or limited obligations left on their leases, according to a statement from Fred's Chief Executive Joseph Anto. All of the stores should be closed by May 2019, leaving 398 stores in the company's fleet. Fred's also continues to pursue opportunities to sell its remaining pharmacy assets. In September, the company announced a deal to sell pharmacy assets at 179 stores in 10 southeastern states to Walgreens Boots Alliance Inc. , a deal that closed in the fourth quarter. Fred's has hired PJ Solomon to review all strategic alternatives, with no guarantee of any further action. Fred's shares are up 10.6% for 2019 so far while the S&P 500 index has gained 15.2% for the period.
MEMPHIS, Tenn., April 11, 2019 -- Fred’s, Inc. (NASDAQ: FRED) today announced the retention of PJ Solomon to evaluate strategic alternatives to maximize value for all.
A year after joining Fred’s and two months after being appointed chief operating officer, one of the company’s top execs has left.
Fred's is donning a new look. The Memphis-based general merchandise retailer filed an application March 29 with the U.S. Patent and Trademark Office that featured the below image. The filing described the mark as consisting of “the name FRED’S in a stylized font and slightly arcuate form above EST 1947.
Fred’s senior executives — and some employees — will be given monetary awards for their execution of the company's key initiatives.
Long term investing works well, but it doesn't always work for each individual stock. We really hate to see fellow investors lose their hard-earned money. Anyone who held Fred's, Inc.Read More...
NEW YORK, Feb. 07, 2019 -- In new independent research reports released early this morning, Capital Review released its latest key findings for all current investors, traders,.
Fred’s has a new executive leadership team — sort of. The Memphis-based general discount store chain announced in a Monday, Feb. 4, filing with the U.S. Securities and Exchange Commission (SEC) that Joseph Anto is now the CEO of Fred’s, effective Feb.
Joe Anto Appointed as CEO Ritwik Chatterjee Appointed as CFO Nathaniel Klein Appointed as COO Mike Ladd Appointed as CSO MEMPHIS, Tenn., Feb. 04, 2019 -- Fred’s, Inc..
Fred’s, Inc. (“Fred’s” or “Company”) (FRED) today announced that its board of directors (the “Board”) has approved a new share repurchase program in order to acquire up to 3.5 million shares of the Company’s outstanding Class A voting common stock (the “common stock”). The Company’s previous share repurchase program, which allowed for the repurchase of up to 3.8 million shares of the Company’s common stock, was completed on January 24, 2019.