Fred’s Third-Quarter Profit Rises

Memphis, Tenn.-based retailer Fred’s Inc. added seven new stores and six express pharmacy stores, while remodeling 79 existing stores during the third quarter, ended Oct 29, the company said. The company reported net income rose 16 percent to $9.0 million in the third quarter from the year-ago period, while net sales rose 2 percent to $444.4 million.

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