Fred's Expects To Be Profitable On Operational Basis By End Of 2017

(RTTNews) - Fred's Inc. (FRED) said that it anticipates continued sequential operational improvement excluding non-operating items throughout 2017 as the initiatives underway continue to take hold, and expects to be profitable on an operational basis by the end of 2017.

Michael Bloom, Chief Executive Officer, said, "Looking ahead, we are focused on executing our key objectives for 2017, including diversifying and optimizing our assets to improve performance and cash flow. In large part we are on track with the Fred's 2017 plan, and doing exactly what we said we would do to optimize Fred's Pharmacy's business model and enhance value for our shareholders. We anticipate continued sequential operational improvement excluding non-operating items throughout 2017 as the initiatives underway continue to take hold, and we expect to be profitable on an operational basis by the end of 2017."