During June, Fred's opened one new store, no pharmacies, and closed five stores. For the full year of fiscal 2007, Fred's has opened 13 new stores, eight pharmacies and closed 16 stores and four pharmacies to date and plans to open 30 to 35 new stores, 15 to 25 new pharmacies, and expects to close 20 to 25 stores, netting growth in selling square footage in the range of 1% to 3% for the year.
Fred's Inc operates 698 discount general merchandise stores, including 24 franchised Fred's stores in the southeastern United States.
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