Fred’s: Fiscal 1Q Earnings Snapshot
MEMPHIS, Tenn. (AP) _ Fred’s Inc. (FRED) on Wednesday reported a loss of $33.9 million in its fiscal first quarter.
On a per-share basis, the Memphis, Tennessee-based company said it had a loss of 96 cents. Losses, adjusted to account for discontinued operations and asset impairment costs, came to 83 cents per share.
The discount retailer posted revenue of $319 million in the period.
The company’s shares closed at 37 cents. A year ago, they were trading at $2.14.