Fred's

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Fred's Inc.
Public
Traded as NASDAQFRED
Industry Discount store
Founded 1947 (1947) in Coldwater, Mississippi[1]
Headquarters Memphis, Tennessee
Number of locations
683 stores and 355 pharmacies (February 1, 2014 (2014-02-01)[1])
Areas served
Southeastern United States
Key people
Michael J. Hayes (Chairman)[2]
Jerry A. Shore (CEO)[2]
Products Garden Supplies, Snacks, Toys, Books, Food, Housewares, Videos, DVDs, Music
Brands Various
Revenue Decrease$1.939 billion[1]
Increase$39.198 million[1] (2014)
Decrease$26.015 million[1] (2014)
Total assets Increase$666.168 million[1] (2014)
Total equity Increase$451.548 million[1] (2014)
Number of employees
9,119 (February 1, 2014 (2014-02-01)[1])
Divisions EIRIS Health Services[1]
Subsidiaries Getwell Drug & Dollar
Yazoo Trading Company[1]
Slogan The Low Price Leader
Website www.fredsinc.com
Fred's Super Dollar store in Lowndes County, Georgia

Fred's, Inc. is a regional chain of discount retail stores, operating in the southeastern (and, to a lesser extent, midwestern) United States. It opened in 1947 and operates approximately 700 stores and 300 pharmacies in 15 states. It is headquartered in Memphis, Tennessee.

History[edit]

This logo was used by Fred's until 2007, however, it still appears on store signs and on some of Fred's private label items.

The first Fred's store opened in Coldwater, Mississippi in 1947. In 1953, Fred's moved its corporate headquarters to Memphis, Tennessee.

Fred's primarily competes against national, deep-discount chains Dollar General, Family Dollar, and Dollar Tree, and, against independently owned stores. In the past few years, it and other deep-discount retailers have taken some market share away from major discount chains like Walmart, as well. Most locations are in towns with populations of 15,000 or less.

In 2008, Fred's decided to close over 50 under-performing stores due to rising fuel costs and other economic issues. For example, several North Carolina locations were closed, leaving over a dozen stores in that state.[3]

Philanthropy[edit]

Fred's currently donates either through corporate donation or voluntary in-store requests to several national charities.[4]

  • American Cancer Society - employees have donated their time and financial support for the American Cancer Society through their involvement in "Making Strides" events. Since becoming involved in the annual walk in 2004, the Fred’s "Super Dollar" teams have raised more than $187,404.[5]
  • Children's Miracle Network Hospitals - stores have helped raise more than $4.2 million to benefit the Children's Miracle Network Hospitals. Shoppers are be able to purchase a Miracle Balloon at any Fred’s "Super Dollar" location. All the proceeds from the sale of the paper balloons will benefit the Children's Miracle Network Hospital in the community where the Miracle Balloon was purchased. With each donation, customers receive a coupon for $1 off two bags of Mars Candy. The 2013 campaign set a record with a total of $746,286 raised, which was a 16.9 percent increase over the 2012 campaign total.[6][7]
  • "Hero Hats" - stores have commemorated the fallen heroes of 9/11 through a fundraiser for the emergency teams that serve their store locations.[8][9] Through September 11, Fred’s "Super Dollar" sells "Hero Hats" for $1 each, with all proceeds going to select emergency teams near store locations. In 2013, through their chain-wide efforts, Fred’s "Super Dollar" raised a total of $327,615 to be donated to local emergency teams across their regions. Since the campaign began in 2002, the company has raised and donated more than $2 million for local fire, police, and sheriff departments. In addition, all operating profits from store sales on September 11 are also donated.[10]
  • The "Panda Pals" Program - the campaign is designed to benefit animal care, conservation and research at the Memphis Zoo. Customers at the 182 Fred’s "Super Dollar" stores located in a 200-mile radius of the zoo generously donate during the annual event.[11] Since it began in 2003, the Panda Pal program has contributed more than $750,000 to the Memphis Zoo.[12]
  • United Way of America - employees have participated in fundraising since 1999 and have donated more than $500,000 since 2005.[13]

References[edit]

  1. ^ a b c d e f g h i j "2013 Annual Report". Fred's Investor Relations. Retrieved 11 January 2015. 
  2. ^ a b "Management". Fred's Investor Relations. Retrieved 11 January 2015. 
  3. ^ "Fred's closing 75 stores". Birmingham Business Journal (American City Business Journals). 8 February 2008. Retrieved 11 January 2015. 
  4. ^ "Community Board". Fred's Community Relations. Retrieved 11 January 2015. 
  5. ^ "Community - American Cancer Society". Fred's Community Relations. Retrieved 11 January 2015. 
  6. ^ Lewis, Amanda (9 May 2012). "Fred's customers raise $637K for children's cause". The Commercial Appeal - Memphis. Scripps Interactive Newspapers Group. Retrieved 11 January 2015. 
  7. ^ "Community - Children's Miracle Network Hospitals". Fred's Community Relations. Retrieved 11 January 2015. 
  8. ^ Underwood, John (6 September 2011). "Fred's Super Dollar 'Hero Hats' program benefits first responders". GulfCoastNewsToday.com. Retrieved 11 January 2015. 
  9. ^ "Fred's Super Dollar Fundraiser Benefits Piggott Departments". Clay County Times-Democrat. 13 December 2012. Retrieved 11 January 2015. 
  10. ^ "Community - Hero's Hats". Fred's Community Relatios. Retrieved 11 January 2015. 
  11. ^ "Fred’s Super Dollar ‘Panda Pal’ Campaign Offers Discount Coupon, Rewards Supporters of Memphis Zoo". LampLighter. 15 July 2014. Retrieved 11 January 2015. 
  12. ^ "Community - Memphis Zoo". Fred's Community Relations. Retrieved 11 January 2015. 
  13. ^ "Community - United Way". Fred's Community Relations. Retrieved 11 January 2015. 

External links[edit]