Fred's (FRED) reports that same-store sales for June fell 4.0% after a transformation from brand...

|By:, SA News Editor

Fred's (FRED) reports that same-store sales for June fell 4.0% after a transformation from brand pharmacy products to generic versions produced a bigger and faster impact than anticipated. The company set it forecast for July same-store sales to -3% to 0% growth and lowers its Q2 EPS guidance to $0.15-$0.17. Shares -0.7% premarket.