Fred’s Inc. Reports Third Quarter 2017 Results
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Fred's (FRED) Reports Cancellation of Dividend, Amends Buyback; to Review of Alternatives for Certain Non-Core Assets
December 6, 2017 7:04 AM ESTFreds, Inc. (NASDAQ: FRED) today announced that its board of directors (the Board) has cancelled its quarterly cash dividend in order to retain free cash flow for debt reductions, share repurchases and other general corporate purposes. The declaration of future cash dividends will be subject to the discretion of the Board based on a number of factors, including but not limited to, the Companys financial performance, its available cash resources, capital requirements and its investment opportunities.
In connection with the cancellation of the dividend the Board has amended the Companys previously disclosed... More
Fred's (FRED) Misses Q3 EPS by 29c
December 6, 2017 7:02 AM ESTFred's (NASDAQ: FRED) reported Q3 EPS of ($0.42), $0.29 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $493.6 million versus the consensus estimate of $499.75 million.
Comparable store sales for the third quarter declined 0.8% versus a decrease of 3.8% in the third quarter last... More
