MEMPHIS — Discount retailer Fred’s Inc. continues its retrenchment, announcing last month that it was closing another 129 stores, leaving it with 80 centered on its distribution center in Dublin, Ga. The move is the latest in a series of store closings (including announcements in April and May) from Fred’s, which had 568 stores in
MEMPHIS — Fred’s Inc. announced Thursday it is closing 104 underperforming stores as part of an “ongoing effort to rationalize its store footprint.” The new round of closings comes five weeks after the Memphis-based company started “going out of business” liquidation sales at 159 stores and follows an evaluation of store performance and timing of lease
MEMPHIS — Fred’s Inc. announced in a filing with the Securities and Exchange Commission that Joseph Anto, who had been running the company on an interim basis, is now its permanent chief executive officer. Anto was hired by Fred’s a year ago as executive vice president and chief financial officer after spending seven months at
MEMPHIS — Fred’s Inc. announced in a filing with the Securities and Exchange Commission that Joseph Anto is now the chief executive officer of the company, effective February 3. The board made the appointment on January 30. Previously, Anto served as Fred’s interim CEO as well as chief financial officer. Heath Freeman, chairman of the
MEMPHIS, Tenn. — Fred’s, Inc. on Thursday reported financial results for the third quarter and nine months ended November 3. The retailer also announced it will complete the transfer of prescription files from 179 of its pharmacies to Walgreens Boots Alliance early next year. Joe Anto, Fred’s interim chief executive officer and chief financial officer, stated “We
MEMPHIS — During its recent earnings call, Fred’s Inc. announced it was “actively pursuing a sale” of its specialty pharmacy business, as it reported financial results for the 2017 fourth quarter and fiscal year ended February 3. A few days after the call, the company reported that it had reached a definitive agreement to sell
MEMPHIS — During its earnings call Friday, Fred’s Inc. announced it is evaluating options for its retail pharmacy portfolio and “actively pursuing a sale” of its specialty pharmacy business, as the company reported financial results for the 2017 fourth quarter and fiscal year ended February 3. The company’s financial results were originally slated to be
MEMPHIS, Tenn. — Fred’s Inc. announced on Friday that chief executive officer Michael Bloom resigned from his post, effective on April 24. He also resigned from his seat on the company’s board. Joseph Anto, the company’s executive vice president, chief financial officer and secretary, will serve as interim chief executive officer. “The Board is appreciative
MEMPHIS — Fred’s Inc. has announced plans to sell its specialty pharmacy business. The disclosure led the company to delay publication of its fourth quarter and 2017 full-year results. An earnings call that was slated for today is now expected to be held May 4. A filing yesterday with the Securities and Exchange Commission says
MEMPHIS — Fred’s Inc. has appointed Jason Jenne executive vice president and chief financial officer. He succeeds Rick Hans, who is stepping down from the company to pursue other opportunities. Hans will remain in an advisory capacity until August 18 and will work closely with Jenne to ensure a smooth transition. Jenne joined Fred’s Pharmacy
MEMPHIS — Fred’s Inc. weighed in on the recent termination of the merger between Walgreens Boots Alliance Inc. and Rite Aid Corp. and the related asset purchase agreement of Fred’s with Walgreens and Rite Aid. In December 2016, Fred’s announced that it had signed an asset purchase agreement with Walgreens and Rite Aid to buy
NEW YORK — Fred’s Inc. and Nielsen recently announced an expansion of their long-term relationship with the renewal of data insights and analytics services. With this agreement, Nielsen will become the exclusive account-level data provider for Fred’s, covering metrics for all 601 Fred’s stores in 15 states across the southeastern U.S., as well as future