Fred’s chief executive officer Michael Bloom

Fred’s reports decreased sales for October

Fred’s reports decreased sales for October

MEMPHIS, Tenn. — Sales continued to slump at Fred’s Inc. as the company posted declines for October. Fred’s said Thursday that revenue for the four weeks ended Oct. 29 totaled $157.3 million, down 4.2% from $164.2 million a year earlier. Same-store sales decreased 3.4%, compared with a 2.3% uptick a year ago. “While we continue