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Fred's 1Q Profit Increases On Lower Expenses
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FRED
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MEMPHIS, Tenn. (AP) — Discount retailer and pharmacy chain Fred's Inc. said Thursday that its first-quarter profit climbed 18 percent on lower expenses to meet Wall Street's expectations.
The company, which is in the midst of a restructuring, earned $8.6 million, or 21 cents per share, for the three months ended May 2 to meet the expectations of analysts surveyed by Thomson Reuters. Analysts' estimates generally exclude one-time items.
Year-ago earnings were $7.3 million, or 18 cents per share. ...
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