Fred’s closing 60 stores


MEMPHIS, Tenn. — Fred’s, based in Memphis, will close 60 stores nationally.

The stores that are closing do not have pharmacies and do not meet newly established store guidelines.

The information came out as Fred’s released numbers to investors.

The company posted a loss of $16 million compared with a year earlier profit of $3.3 million.

Fred’s did not say which stores are closing.



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