FREDS, INC. (NASDAQ:FRED) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02.DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On August 7, 2017, the Chairman of the Board of Directors (the "Board") of Fred's, Inc. (the "Company") was notified of Mr. Christopher W. Bodine's decision to resign from the Board, effective August 11, 2017. Mr. Bodine's resignation was not the result of any disagreement with the Company, its management or its operations, policies or practices. Mr. Bodine joined the Company's Board of Directors with significant acquisition and integration-related expertise, and following the termination of the Company's agreement to purchase certain assets from Rite Aid Corporation, Mr. Bodine determined that now is the right time to step down from the Board and focus his attention on other professional commitments.
About FRED'S, INC. (NASDAQ:FRED)
Fred’s, Inc. (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States. The Company is licensed to dispense pharmaceuticals in approximately 50 states. The Company operates approximately 640 company-owned stores, including over 60 express stores (or Xpress stores). Fred’s is a combination of pharmacy, dollar store and mass merchant strategically located in smaller markets. It offers various product categories, including consumables, such as tobacco, food and beverage, prescription pharmaceuticals, paper and cleaning supplies, pet supplies, health and beauty aids, and discretionary products, such as home decor, seasonal merchandise, auto and hardware, and lawn and garden. FRED'S, INC. (NASDAQ:FRED) Recent Trading Information
FRED'S, INC. (NASDAQ:FRED) closed its last trading session up +0.01 at 6.36 with 506,754 shares trading hands.