Fred’s to close more stores

Fred’s (NASDAQ:FRED) says it will close an additional 49 underperforming stores as part of an ongoing effort to optimize the store footprint.

The retailer notes the decision to close the additional stores follows a continued evaluation of the store portfolio, taking into consideration historical and recent store performance as well as the timing of lease expirations.

FRED is +5.56% to $0.40.

Source: Press Release

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