Fred's Financials

$2.1 B

Revenue FY, 2017

$109.5 M

Mkt cap, 20-Apr-2018
Gross profit (FY, 2017)510.3 M
Gross profit margin (FY, 2017), %24%
Net income (FY, 2017)(66.5 M)
EBIT (FY, 2017)(74.7 M)
Cash, 29-Jul-20175.7 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2017

Revenue

1.9 b2 b2.2 b2.1 b

Revenue growth, %

2%9%

Cost of goods sold

1.5 b1.6 b1.6 b

Gross profit

503.8 m544.2 m510.3 m

Gross profit Margin, %

26%25%24%

General and administrative expense

537.9 m

Operating expense total

537.9 m

EBIT

(48.4 m)(10.4 m)(74.7 m)

EBIT margin, %

(2%)0%(4%)

Interest expense

504 k1.4 m2.3 m

Interest income

Pre tax profit

(48.9 m)(11.8 m)(77 m)

Income tax expense

(20 m)(4.5 m)(10.5 m)

Net Income

26 m(28.9 m)(7.4 m)(66.5 m)

Quarterly

USDQ3, 2013Q3, 2014Q2, 2014Q1, 2014Q2, 2015Q1, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Revenue

460.5 m476.2 m491.2 m498.3 m546.1 m509 m541 m549.5 m529.5 m516.6 m532.3 m507.8 m

Cost of goods sold

320.3 m352.7 m377.5 m355.8 m414.2 m372 m398.7 m408.2 m401.4 m405.4 m399.4 m381.8 m

Gross profit

140.2 m123.5 m113.7 m142.5 m131.9 m137.1 m142.3 m141.3 m128.1 m111.2 m132.9 m126 m

Gross profit Margin, %

30%26%23%29%24%27%26%26%24%22%25%25%

General and administrative expense

119 m129.8 m129.6 m122.6 m128.2 m126.1 m128.5 m127.3 m127.3 m143.3 m155.5 m142.8 m

Operating expense total

119 m129.8 m129.6 m122.6 m128.2 m126.1 m128.5 m127.3 m127.3 m143.3 m155.5 m142.8 m

EBIT

10.6 m(16.6 m)(26.1 m)10 m(7.8 m)75 k2.4 m2.4 m(10.9 m)(44.1 m)(34.2 m)(28.1 m)

EBIT margin, %

2%(3%)(5%)2%(1%)0%0%0%(2%)(9%)(6%)(6%)

Interest expense

113 k107 k163 k135 k449 k262 k352 k515 k610 k560 k1.3 m1.4 m

Pre tax profit

10.5 m(16.7 m)(26.3 m)9.9 m(8.2 m)(187 k)2.1 m1.9 m(11.5 m)(44.6 m)(35.5 m)(29.5 m)

Income tax expense

3.2 m(6.3 m)(9.9 m)3.8 m(3.4 m)(158 k)621 k657 k(4.6 m)(6.2 m)1 m(23 k)

Net Income

7.3 m(10.4 m)(16.4 m)6.1 m(4.9 m)(29 k)1.4 m1.3 m(6.9 m)(38.4 m)(36.5 m)(29.5 m)

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2017

Cash

6.7 m6.4 m5.9 m5.8 m

Accounts Receivable

Inventories

362 m315.7 m340.7 m331.8 m

Current Assets

454.6 m420 m451.4 m435.2 m

Goodwill

41.5 m41.5 m

Total Assets

666.2 m649.2 m730.5 m699.4 m

Accounts Payable

125.9 m143.3 m184.7 m147.3 m

Short-term debt

Current Liabilities

196.6 m206.6 m241.4 m212 m

Long-term debt

Total Liabilities

362.2 m

Common Stock

102.5 m104.5 m118.1 m

Preferred Stock

Retained Earnings

348.3 m310.6 m294.1 m218.6 m

Total Equity

415.6 m404.2 m337.2 m

Financial Leverage

1.6 x1.8 x2.1 x

Quarterly

USDQ3, 2013Q3, 2014Q2, 2014Q1, 2014Q2, 2015Q1, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018

Cash

21.6 m7.6 m8.1 m8.2 m7 m7.1 m6.6 m6.8 m6.2 m5.7 m6.6 m5.7 m

Inventories

385.6 m352.3 m342 m382.9 m323.6 m328.4 m369.9 m350.6 m346.4 m366.6 m339.6 m322 m

Current Assets

492.9 m463.5 m440.6 m475 m441.1 m455.1 m484.6 m460 m453.1 m474.6 m456.4 m420.6 m

Goodwill

44.5 m45.6 m44.5 m41.5 m41.5 m41.5 m41.5 m41.5 m

Total Assets

696.8 m695.5 m663.3 m691.8 m730.2 m745.1 m773.3 m735.7 m730.4 m740.9 m716.6 m662.8 m

Accounts Payable

145.3 m160.2 m121.4 m141.7 m161.4 m133.9 m246.9 m191.3 m145.4 m214.8 m144 m125.7 m

Current Liabilities

224.1 m238.5 m194.1 m216 m229.2 m224.8 m321.2 m244.7 m204.3 m285.9 m226.8 m221.6 m

Total Liabilities

247.2 m268.5 m224.4 m235.1 m320.5 m329.3 m363.6 m331.7 m334.6 m385 m416.1 m392.1 m

Common Stock

102.3 m105.3 m104.6 m103.7 m108 m107.1 m108.9 m110.4 m111.3 m112.1 m120.2 m122.1 m

Preferred Stock

Retained Earnings

346.6 m320.9 m333.6 m352.2 m301.1 m308.2 m300.3 m293.2 m284 m243.4 m179.9 m148.1 m

Total Equity

427 m438.9 m409.6 m409.8 m404.1 m395.8 m355.9 m300.5 m270.7 m

Financial Leverage

1.6 x1.5 x1.8 x1.9 x1.8 x1.8 x2.1 x2.4 x2.4 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2017

Net Income

26 m(28.9 m)(7.4 m)(66.5 m)

Depreciation and Amortization

41 m41.1 m45.7 m47 m

Accounts Receivable

Inventories

(15 m)28.4 m(31 m)(13.8 m)

Accounts Payable

11.2 m15.6 m29.2 m(29.8 m)

Cash From Operating Activities

58.9 m63.7 m50.7 m(27.1 m)

Cash From Investing Activities

(44.5 m)(56.1 m)(78.6 m)(34.1 m)

Dividends Paid

(8.8 m)(8.8 m)(8.9 m)(9 m)

Cash From Financing Activities

(15.7 m)(7.9 m)27.3 m61.1 m

Interest Paid

487 k504 k1.4 m2.3 m

Income Taxes Paid

19.8 m8 m4.6 m(9.9 m)

Free Cash Flow

84.8 m87 m73.7 m(51.5 m)

Quarterly

USDQ3, 2013Q3, 2014Q2, 2014Q1, 2014Q2, 2015Q1, 2015Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

7.3 m(10.4 m)(16.4 m)6.1 m(4.9 m)(29 k)1.4 m1.3 m(6.9 m)(38.4 m)(36.5 m)

Depreciation and Amortization

10.6 m10.3 m10.2 m9.8 m11.5 m10.9 m11.4 m11.6 m11.8 m12 m11.6 m

Inventories

352.3 m342 m323.6 m328.4 m369.9 m350.6 m346.4 m366.6 m339.6 m

Accounts Payable

160.2 m121.4 m161.4 m133.9 m246.9 m191.3 m145.4 m214.8 m144 m

Ratios

USDY, 2017

Revenue/Employee

439 k

Financial Leverage

2.4 x
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Operating Metrics

FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018

Customer Transactions

84 m82 m81 m

Pharmacies

370 375 376 374 372 373 372 370 362 351

Product Lines

12 k12 k12 k

Stores (Franchising)

19 19 19 19 18 18 18 18 16 14

Stores (U.S.)

641 662 662 658 641 660 651 648 628 601
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