Fred’s Pharmacy Reports June Sales
Continues execution of the Company’s healthcare transformation strategy
Fred’s total sales for the month decreased 5.3% year-over-year to
Commenting on the announcement,
Mr. Bloom continued, “Our lower than anticipated June sales and the headwinds we are facing will impact our second quarter results, and we no longer expect sequential improvement from the first quarter. However, we still expect to achieve operational profitability in the fourth quarter of 2017. We remain committed to enhancing long-term shareholder value and will continue to execute on our strategy, including growing scripts and optimizing our supply chain and store fleet, to drive revenue growth, enhance gross margins, reduce operating expense and increase free cash flow.”
Tracing its history back to an original store in
For more information about the Company, visit Fred’s website at www.fredsinc.com.
Comments in this news release that are not historical facts are
forward-looking statements that involve risks and uncertainties that
could cause actual results to differ materially from those projected in
the forward-looking statements. A reader can identify forward-looking
statements because they are not limited to historical facts or they use
such words as "outlook," "guidance," "may," "should," "could,"
"believe," "anticipate," "plan," "expect," "estimate," "forecast,"
"goal," "intend," "committed," "continue," or "will likely result" and
similar expressions that concern the Company's strategy, plans,
intentions or beliefs about future occurrences or results. These risks
and uncertainties include, but are not limited to, those associated with
the Company's announced strategic plan, the success of announced
acquisition activities and future growth trends in businesses acquired;
general economic trends; changes in consumer demand or purchase
patterns; delays or interruptions in the flow of merchandise between the
Company's distribution centers and its stores or between the Company's
suppliers and same; a disruption in the Company's data processing
services; cyber-security threats; costs and delays in acquiring or
developing new store sites; and the factors listed under "Risk Factors"
in the Company's most recent Annual Report on Form 10-K and any
subsequent quarterly filings on Form 10-Q filed with the
Source: Fred’s, Inc.
Rick Hans, 901-238-2232
Executive Vice President, Chief Financial Officer and Secretary
Joele Frank, Wilkinson Brimmer Katcher
Ed Trissel / Dan Moore, 212-355-4449