Fred’s Reports Fourth Quarter and Fiscal Year 2017 Results
FRED'S (FRED)
Last fred's earnings: 12/6 07:00 am
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US:NASDAQ Investor Relations:
investors.fredsinc.com/investor-overview
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Source: GlobeNewswire
MEMPHIS, Tenn., May 04, 2018 (GLOBE NEWSWIRE) -- Fred's, Inc. (NASDAQ:FRED) reported financial results for the fourth quarter and fiscal year ended February 3, 2018. Commenting on today’s announcement, Fred’s Interim CEO, Joseph Anto stated “I’m excited to say we are now executing a turnaround plan to accomplish two main goals: eliminating our debt and generating significant positive EBITDA and free cash flow, on a run rate basis, by Q4 of FY 2018. Our plan is focused on five key areas: strategic transactions, optimizing our cost structure and capital allocation, talent acquisition, revenue and margin initiatives and assortment optimization. “Some of the strategic transactions we are actively pursuing include a sale of our specialty pharmacy business and portions of our vast real estate portfolio. In addition, we are evaluating various options for our retail pharmacy portfolio. We’ve made significant progress on the expense side of our business, having identified $30-$40 million i
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