MEMPHIS, Tenn. — Fred’s has a new addition to its board of directors. The company on Monday announced the appointment of Alden Global Capital founding member and president Heath Freeman to the board, effective at its next meeting, which will be held on or before Aug. 29.
Freeman joins the board as part of Fred’s and Alden’s extension of their cooperation agreement into 2019 that includes updated terms about their collaborative efforts to drive shareholder value.
MEMPSHIS, Tenn. — Fred’s on Thursday reported its July sales, as well as initial results from its fiscal second quarter, which included the best comparable-store sales the company has reported in the past four quarters. The company’s Q2 sales decreased 4.2% to $507.4 million, while comparable-store sales decreased 0.3%, compared with a 2% decrease in Q2 2016.