Fred's lowers outlook

HTT Staff -- Home Textiles Today, 1/3/2013 1:58:29 PM

Memphis, Tenn. - Fred's Inc., the only company on the HTT's list of key retailers that reported a comp decline in December, has lowered its fourth quarter earnings outlook to 25-31 cents per share.

"We expect that 2013 will be a springboard year for Fred's with the expansion of specialty drugs and clinical services, accelerated pharmacy acquisitions, new auto and hardware product initiatives, the rollout of a smaller drug and dollar store concept, and the beginning of the relocation of approximately 125 stores," said Bruce Efird, ceo.