POY_1170x120_8-12-19

Jerry Shore

Fred’s revamps its board of directors

Fred’s revamps its board of directors

MEMPHIS, Tenn. — Fred’s Inc. has overhauled its board of directors, including the appointment of chief executive officer Michael Bloom and retail industry veterans Christopher Bodine and Peter Bocian as members. Fred’s said Tuesday that Bloom, Bodine and Bocian join the board effective immediately. Former Fred’s CEOs Jerry Shore and Michael Hayes and longtime director

Bloom becomes CEO at Fred’s

Bloom becomes CEO at Fred’s

MEMPHIS — Mike Bloom has been named chief executive officer of 651-store Fred’s Inc. He succeeds Jerry Shore, who is ­retiring. Bloom, who joined Fred’s as president and chief operating officer in January 2015, has worked closely with Shore on building a strong management team to ensure a smooth and effective transition. Bloom will lead

Bloom succeeds Shore as CEO of Fred’s

Bloom succeeds Shore as CEO of Fred’s

MEMPHIS, Tenn. — Fred’s Inc. president and chief operating officer Michael Bloom has been named as chief executive officer, succeeding Jerry Shore, who is retiring. Bloom takes the CEO reins effective immediately, and plans call for Shore to retire from the company in February, Fred’s said Tuesday. “I am honored and humbled to be given

Fred’s creates pharmacy COO post

Fred’s creates pharmacy COO post

MEMPHIS, Tenn. — Timothy Liebmann has been promoted to chief operating officer of pharmacy, a newly created position, at Fred’s Inc. Fred’s said late Thursday that Liebmann succeeds Rick Chambers, executive vice president of pharmacy operations, who is retiring. Liebmann joined Fred’s in June as vice president of pharmacy services. “We are indeed grateful to

Fred’s appoints new chief merchant

Fred’s appoints new chief merchant

MEMPHIS, Tenn. — Bryan Pugh has resigned as chief merchant at Fred’s Inc. and has been replaced by Mary Lou Gardner. Fred’s said late Tuesday that Gardner takes over Pugh’s role as executive vice president and chief merchandising and marketing officer effective immediately. She has served as senior vice president of strategy and project management

Fred’s tabs former Walgreens executive as CFO

Fred’s tabs former Walgreens executive as CFO

MEMPHIS, Tenn. — Former Walgreens finance executive Rick Hans has joined Fred’s Inc. as executive vice president and chief financial officer. Fred’s said late Monday that Hans fills the vacancy left when Jerry Shore, the retailer’s previous CFO, was promoted to chief executive officer in October 2014. In his 27-year career at Walgreen Co., Hans

New chairman to take the reins at Fred’s

MEMPHIS, Tenn. — The same day that Fred’s Inc. reported fiscal 2015 results, the pharmacy and discount store retailer named a new chairman. Fred’s said Wednesday that Michael Hayes, 74, is slated to step down as chairman of the board of directors on April 15, to be succeeded by director Thomas Tashjian, 61. Hayes will

Foley leaves Walgreens to join Fred’s exec team

MEMPHIS — Fred’s Inc. has hired retail pharmacy veteran John Foley as executive vice president of store operations. Foley assumed his duties on October 7. He succeeded Mike Holligan, who was named to the open position of regional vice president of store operations for Fred’s. Foley is expected to help Fred’s continue to develop a

Former Walgreens exec to lead store ops at Fred’s

Former Walgreens exec to lead store ops at Fred’s

MEMPHIS, Tenn. — John Foley, a former retail operations executive at Walgreens, is joining Fred’s Inc. as executive vice president of store operations. Fred’s said Wednesday that Foley is slated to take over the post immediately and that Mike Holligan, who formerly served in the role, will move to an open position of regional vice

Walmart, Fred’s cite Rx headwinds for profit squeeze

NEW YORK — The world’s biggest retailer and a regional discount chain have attributed pressure on profits to trends in the prescription drug business. Walmart and Memphis, Tenn.-based Fred’s Inc. said lower pharmacy margins had eaten into second quarter earnings and pointed to lower reimbursements and a drop in cash customers as a result of

Fred’s enlists A.T. Kearney to spur Rx business

Fred’s enlists A.T. Kearney to spur Rx business

MEMPHIS, Tenn. — Fred’s Inc. has retained global management consulting firm A.T. Kearney to help the retailer grow its pharmacy business. In reporting June sales on Thursday, the discount store chain noted that its expanded specialty pharmacy operation were a key driver of revenue growth for the month. The company in April closed a $66

Fred’s closes specialty Rx acquisition

Fred’s closes specialty Rx acquisition

MEMPHIS, Tenn. — Fred’s Inc. has wrapped up its acquisition of Reeves-Sain Drug Store Inc., including its EntrustRx specialty pharmacy. Under the $66 million deal, announced in late March, Fred’s acquired Reeves-Sain Drug Store’s EntrustRx specialty pharmacy operation, which has facilities in Spring Hill, Tenn., and Columbus, Miss., and the single Reeves-Sain retail pharmacy in

Former Walgreens merchandising exec Pugh joins Fred’s

Former Walgreens merchandising exec Pugh joins Fred’s

MEMPHIS, Tenn. — Former Walgreen Co. executive Bryan Pugh has been hired by Fred’s Inc. as chief merchandising and marketing officer. The discount general merchandise chain said late Wednesday that Pugh will develop new merchandising and marketing strategies and processes as well as enhance current ones. He will also be tasked with promoting stronger supplier