MEMPHIS, Tenn. — Fred's on Thursday tallied $141.8 million in sales, representing an increase of 3% for the four weeks ended April 30, the retailer reported Thursday.
Comparable-store sales for the month rose 1.8%, versus an increase of 0.6% in the same period last year. Likewise, Fred's total sales for the first three months of fiscal 2011 increased 3% to $484.4 million.
"The combination of the [recent] storms, along with rising food and gas prices, is becoming a real challenge for our customers,” stated Bruce Efird, Fred’s CEO. “As a result, even though customer traffic met expectations, average ticket, as one might expect, was down as historically key departments such as lawn and garden, and soft lines were below plan.”
During April, Fred's opened one new store and two pharmacy express locations.