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Heath Freeman

Fred’s reports second quarter results

Fred’s reports second quarter results

MEMPHIS, Tenn. — Fred’s, Inc. reported financial results for the second quarter and six months ended August 4, 2018. Net sales down 4.3% to $419.7 million in second quarter 2018 versus $438.5 million 2017. Fred’s Interim chief executive officer and chief financial officer, Joe Anto, stated, “We are continuing to make progress against our two main

Fred’s pursuing sale of specialty pharmacy business

Fred’s pursuing sale of specialty pharmacy business

MEMPHIS — During its earnings call Friday, Fred’s Inc. announced it is evaluating options for its retail pharmacy portfolio and “actively pursuing a sale” of its specialty pharmacy business, as it reported financial results for the 2017 fourth quarter and fiscal year ended February 3. The company’s financial results were originally slated to be released

Fred’s appoints new chairman, posts 2Q net loss

Fred’s appoints new chairman, posts 2Q net loss

MEMPHIS, Tenn. — Fred’s Inc. has named recently added board member Heath Freeman, president and founding member of Alden Global Capital LLC, as chairman. Also on Wednesday, Fred’s reported a net loss for its fiscal 2017 second quarter. Adjusted earnings per share (EPS) were in line with Wall Street’s forecast. Freeman, who joined the Fred’s board

Fred’s tabs Alden’s Freeman for board; Bodine resigns

Fred’s tabs Alden’s Freeman for board; Bodine resigns

MEMPHIS, Tenn. — Later this month, Alden Global Capital LLC president and founding member Heath Freeman is slated to join the board of directors at Fred’s Inc. Fred’s also said Monday that retail pharmacy veteran Christopher Bodine resigned from the board as of Aug. 11. Bodine, a longtime CVS executive, had joined Fred’s board in

Fred’s names two new board members

Fred’s names two new board members

MEMPHIS, Tenn. — Fred’s Inc. has appointed two new board members as part of an agreement with hedge fund Alden Global Capital LLC, the discount and pharmacy chain’s largest shareholder. Fred’s said Monday that Steven Rossi, chief executive officer of Digital First Media, and Timothy Barton, founder and former CEO of Freightquote.com, have been named