Fred’s Inc (FRED) said on Friday that additional 49 underperforming stores would be closed as part of an ongoing effort aimed to optimize store footprint.
On the other hand, the retailer noted that pharmacies would still remain open even after these stores are shut down.
The company’s shares closed lower for the sixth time in the past ten trading sessions on NASDAQ on Friday. The stock went down 2.49% ($0.01) to $0.37, after touching an intraday high at $0.40 and an intraday low at $0.34.
Shares of Fred’s Inc have retreated 80.42% so far in 2019 compared with a 21.05% gain for the benchmark index, NASDAQ Composite (IXIC).
In 2018, Fred’s Inc’s stock went down 53.33%, thus, it again underperformed the NASDAQ Composite, which registered a 3.88% loss.
The company also said that it would continue to cooperate with SB360 Capital Partners and Malfitano Advisors LLC to help manage the process and ensure a seamless experience for its clients.
The decision to shut down ”additional underperforming stores follows a continued evaluation of the companys store portfolio, including historical and recent store performance and the timing of lease expirations, among other factors.”
The news came after the discount retailer had said it would close a total of 263 stores over the last two months.
Locations of the affected stores are presented in the following list:
LOUISVILLE, GA 119 US 1 BY-PASS LOUISVILLE GA 30434
LEXINGTON, GA 718 ATHENS RD LEXINGTON GA 30648
ROLLING FORK, MS 901 US 61 ROLLING FORK MS 39159
SOPERTON, GA 4269 W MAIN ST SOPERTON GA 30457
OKOLONA, MS 511 W MONROE AVENUE OKOLONA MS 38860
CALHOUN CITY, MS 71 HIGHWAY 8 E CALHOUN CITY MS 38916
CLARKSVILLE, AR 409 W MAIN ST CLARKSVILLE AR 72830
MACON, MS 59 FRONTAGE RD MACON MS 39341
RICHTON, MS 403 FRONT ST RICHTON MS 39476
BRINKLEY, AR 1131 NORTH CHARLYNE BRINKLEY AR 72021
BOLIVAR, TN 105 TENNESSEE ST BOLIVAR TN 38008
HAMBURG, AR 700 N MAIN ST HAMBURG AR 71646
TYLERTOWN, MS 3000 PLAZA DRIVE TYLERTOWN MS 39667
FERRIDAY, LA 2094 EE WALLACE BLVD N FERRIDAY LA 71334
CAMDEN, TN 195 HIGHWAY 641 N CAMDEN TN 38320
NEWTON, MS 304 NORTHSIDE DR NEWTON MS 39345
WIGGINS, MS 116 2ND STREET SOUTH WIGGINS MS 39577
SPRINGHILL, LA 1190 S ARKANSAS ST. SPRINGHILL LA 71075
NORTH CROSSETT, AR 1164 HIGHWAY 133 N CROSSETT AR 71635
LORETTO, TN 534 N MILITARY ST LORETTO TN 38469
BALD KNOB, AR 170 HIGHWAY 167 N BALD KNOB AR 72010
CHEROKEE VILLAGE, AR 200 HOSPITAL DRIVE CHEROKEE VILLAGE AR 72529
KERSHAW, SC 405 SOUTH HAMPTON STREET KERSHAW SC 29067
KENTWOOD, LA 734 AVENUE G, HIGHWAY 38 KENTWOOD LA 70444
MORRILTON, AR 601 N ST JOSEPH MORRILTON AR 72110
MANTACHIE, MS 67 WATSON DR MANTACHIE MS 38855
EUNICE, LA 2200 W LAUREL AVE EUNICE LA 70535
FAIRVIEW, TN 2415 FAIRVIEW BLVD FAIRVIEW TN 37062
BEEBE, AR 901 W DEWITT HENRY DR BEEBE AR 72012
MIDDLETON, TN (GD&D) 700 S. MAIN STREET MIDDLETON TN 38052
SULLIGENT, AL (GD&D) 5705 HWY 278 SULLIGENT AL 35586
REFORM, AL 609 1ST AVE W REFORM AL 35481
GEORGIANA, AL 685 HWY 106 WEST GEORGIANA AL 36033
GREENFIELD, TN 1207 S MERIDIAN ST GREENFIELD TN 38230
HEBER SPRINGS, AR 308 S 7TH ST HEBER SPRINGS AR 72543
LEXINGTON, MS 301 YAZOO ST LEXINGTON MS 39095
WOODVILLE, MS 211 U.S. HWY 61 SOUTH WOODVILLE MS 39669
TAYLORSVILLE, MS 402 PINE ST TAYLORSVILLE MS 39168
INDIANOLA, MS 210 HIGHWAY 82 W INDIANOLA MS 38751
PELAHATCHIE, MS 404 SECOND STREET PELAHATCHIE MS 39145
CHURCH POINT, LA 821 S MAIN ST CHURCH POINT LA 70525
HOUSTON, MS 905 N PONTOTOC ST HOUSTON MS 38851
HAYNESVILLE, LA 9270 HIGHWAY 79 HAYNESVILLE LA 71038
ALBANY, KY 800 N CROSS ST ALBANY KY 42602
DEQUINCY, LA 702 WEST 4TH STREET DEQUINCY LA 70633
ACKERMAN, MS 318 N ALFORD ACKERMAN MS 39735
DURANT, MS 33674 HIGHWAY 12 DURANT MS 39063
SHERIDAN, AR 624 S ROCK ST SHERIDAN AR 72150
MANSFIELD, LA 400 WASHINGTON AVE MANSFIELD LA 71052
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Fred’s Inc (FRED) are presented as follows:
Central Pivot Point – $0.37
R1 – $0.41
R2 – $0.45
R3 – $0.49
R4 – $0.53
S1 – $0.33
S2 – $0.29
S3 – $0.25
S4 – $0.21
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