Fred's, Inc., together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company operated 641 company-owned stores, including 62 express stores, as of January 31, 2015 in 15 states primarily in the southeastern United States. In addition to the company-owned stores, there were 19 franchised stores operating under the Fred's name. Fred's stores serve low, middle and fixed income families located in small- to medium- sized towns. There were 370 full service pharmacies, which are included in the company-owned and Xpress stores. In addition to the full service pharmacies, the company opened a specialty pharmacy facility, EIRIS Health Services, in 2013. Fred's stores stock approximately 12,000 frequently purchased items which address the everyday needs of its customers, including nationally recognized brand name products, proprietary ‘Fred's’ label products and lower priced off-brand products. Fred's operated 370 pharmacies, as of January 31, 2015, which offered brand name and generic pharmaceuticals. The company’s Fred's Brand products include household cleaning supplies, health and beauty aids, disposable diapers, pet foods, paper products and various food and beverage products. Business Strategy The company’s strategy is to meet the general merchandise and pharmacy department needs of the small- to medium- sized towns by offering quality merchandise and a more attractive price-to-value relationship. The major elements of this strategy include the following: wide variety of frequently purchased, basic merchandise; discount prices; and convenient shopper-friendly environment Suppliers The company’s major suppliers include Procter and Gamble, Cardinal Health, Inc. and AmerisourceBergen Corporation. Seasonality The company’s sales volume is heavier around the first of each calendar month in addition to the peak Christmas selling season. Typically, the company experiences highest sales in the fourth quarter due to Christmas, while its lowest sales usually occur in the third quarter. The company’s quarterly results can also be affected by the timing of certain holidays and by store openings and closings. Higher volumes of inventory, along with higher shipping costs, are purchased in the third quarter in preparation for higher traffic and sales volume in the fourth quarter. Regulations As a publicly traded Company, the company is subject to various federal securities laws and regulations, including the Securities Act of 1933 and the Securities Exchange Act of 1934, and related rules and regulations promulgated by the Securities and Exchange Commission (SEC), as well as the Sarbanes-Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. History Fred’s, Inc. was founded in 1947.
fred's inc-class a (FRED:NASDAQ GS)
4300 New Getwell Road
Memphis, TN 38118
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