Fred's To Close 49 Stores - Quick Facts

(RTTNews) - Fred's, Inc. (FRED) has decided to close additional 49 underperforming stores. The company's decision follows an evaluation of its store portfolio as part of an ongoing effort to optimize store footprint. Pharmacies will remain open at all locations, the company noted.

In April, 2019, the company announced its decision to rationalize footprint by closing underperforming stores, with a particular focus on locations with shorter duration leases. The closure of 159 impacted stores were announced in April. In May, Fred's announced the closure of an additional 104 underperforming stores in the Southeast.