Content about Bruce Efird

March 28, 2013
Fred's misses analysts expectations

Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year.

MEMPHIS, Tenn. — Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year. Comparable store sales increased 1.1%. Excluding the effect of the extra week in the current year, fiscal 2012 comparable store sales for the year decreased 1.4% from the year-earlier period. 

November 20, 2012
Fred's struggles continue amid challenging economy

Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results.

Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results. "During the third quarter we continue to see generally weak economic conditions throughout the Southeast which are clearly weighing heavily on our customers and influencing how they shop for their basic needs," he said. "It's more evident that things are not getting better for our core customers."

November 22, 2011
Fred's reports strong Q3 results

Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

MEMPHIS — Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Total sales for the retailer rose 2% to $444.4 million, compared with the year-ago period, while comparable-store sales were flat. Net income increased 16% to $9 million, compared with last year, while earnings per diluted share rose 20% to 24 cents.

August 25, 2011
Fred's customers challenged in Q2

Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures.

MEMPHIS, Tenn. — Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures. "In key markets we continue to see swings in sales [tied to] the payroll cycle," Bruce Efird, Fred's president and CEO, told analysts during a conference call this morning. Efird also reported an increase in government assistance utilization.

November 29, 2010
November sales at Fred's exceed expectations

Total sales and comparable-store sales both rose during the month of November for Fred's, the...

November 22, 2010
Fred's 3Q net income up 55%

Fred's reported that for the third quarter, net income increased 55% to $7.8 million or...