Fred's (FRED) reported quarterly earnings results on Tuesday, Aug-30-2016. The company said it had a profit of $-0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.20. The company posted revenue of $529.50 million in the period, compared to analysts expectations of $546.23 million. The company’s revenue was down -3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.13 EPS.
Many Wall Street Analysts have commented on Fred's. Shares were Downgraded by Deutsche Bank on Aug 8, 2016 to ” Sell” and Lowered the Price Target to $ 12 from a previous price target of $15 .Fred's was Initiated by Sidoti to “Neutral” on Jul 6, 2016.
Fred's closed down -0.15 points or -1.18% at $12.56 with 1,33,556 shares getting traded on Monday. Post opening the session at $12.78, the shares hit an intraday low of $12.4 and an intraday high of $12.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jun 10, 2016, Michael Hayes (director) sold 5,000 shares at $15.20 per share price. According to the SEC, on Jun 2, 2016, Ricky Chambers (EVP) sold 6,990 shares at $14.69 per share price. On May 31, 2016, Mike Holligan (EVP) sold 1,517 shares at $14.67 per share price, according to the Form-4 filing with the securities and exchange commission.
Fred’s Inc. (Fred’s) is an operator of general merchandise stores. The Company operates approximately 660 discount general merchandise stores including around 19 franchised Fred’s stores in 15 states in the southeastern United States. The Company has around 370 full service pharmacies in its stores. The Company offers different product categories including consumables such as tobacco food and beverage prescription pharmaceuticals paper and cleaning supplies pet supplies health and beauty aids and discretionary products such as home decor seasonal merchandise auto and hardware and lawn and garden. Fred’s Xpress stores offer pharmacy services along with a scaled-down convenience centered general merchandise area. The Company’s Xpress stores typically sell primarily pharmaceuticals other health and beauty related items and general merchandise offerings mainly consumables. The Company also has a specialty pharmacy facility EIRIS Health Services.