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Michael Bloom

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

Fred’s appoints senior VPs of merchandising, supply chain

Fred’s appoints senior VPs of merchandising, supply chain

MEMPHIS, Tenn. — Fred’s Inc. has appointed senior vice presidents for general merchandise and consumables merchandising, including the hiring of a former CVS Health executive, and named a senior vice president to oversee its supply chain. The discount and pharmacy retailer said late Monday that Gregory Froton has joined the company as senior VP of

Fred’s finishes fiscal year with sales declines

Fred’s finishes fiscal year with sales declines

MEMPHIS, Tenn. — Sales continued to slide at Fred’s Inc., as the discount and pharmacy retailer reported decreases for its fiscal 2016 fourth quarter and full year and January 2017. Fred’s said Thursday that January sales totaled $148.1 million, down 5.6% from $156.9 million a year earlier. Same-store sales for the month fell 4.8%, compared

Fred’s sees sales decline in September

Fred’s sees sales decline in September

MEMPHIS, Tenn. — Impacted by pricing pressure and pharmacy industry trends, Fred’s Inc. reported decreased revenue and same-store sales for September. The discount retail and pharmacy chain said Thursday that for the five weeks ended Oct. 1, sales totaled $199.9 million, down 5.5% from $211.4 million a year earlier. Same-store sales fell 4.9% for September,

Fred’s tabs McLane as a primary distributor

Fred’s tabs McLane as a primary distributor

TEMPLE, Texas — Fred’s Inc. has entered a multiyear primary distribution contract with McLane Co. McLane said Thursday that the new agreement, which starts in October, will consolidate the efforts of 60-plus distributors serving Fred’s 651 discount and pharmacy stores. The contract, the length of which wasn’t disclosed, includes the distribution of refrigerated and frozen

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