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Joseph Anto

Fred’s to close an additional 104 stores

Fred’s to close an additional 104 stores

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

Fred’s to begin closing unprofitable stores

Fred’s to begin closing unprofitable stores

MEMPHIS – Fred’s announced Thursday that it will begin to close underperforming and unprofitable stores. The company also has retained PJ Solomon to evaluate strategic alternatives to maximize value for all shareholders. The review will include a thorough evaluation of the company’s current operating plan, as well as all other potential alternatives to maximize value.

Fred’s names Anto permanent CEO

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

Fred’s seeking to reset its cost structure

Fred’s seeking to reset its cost structure

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