- Big Lots Inc. reports sales were up 14 percent; the Columbus, Ohio-based chain has 15 sites in metro Orlando.
- Ross Stores Inc. says sales were up 13 percent; the Newark, Calif.-based company has seven stores in metro Orlando.
- TJX Cos., owner of the TJ Maxx chain, reports a seven percent rise in sales; the Framingham, Mass.-based chain has three locations locally.
Dollar-bargain discount outlets also did well. Sales rose almost eight percent both at Dollar General Corp. and Family Dollar Stores; each has about two-dozen local stores. Meanwhile, comp-store sales for Wal-Mart and Target increased 11 percent and 8.5 percent, respectively.
Moderator Comment: Which discount/mass retailer not named Wal-Mart or Target impresses you the most and why?
One vote here for Fred's of Memphis, Tenn. The discount pharmacy and general merchandise operator has 385 company stores and franchises 26 stores in 11 southeastern states.
It is growing and making money. Year to year sales comparisons show increases in comparable store sales, sales per square foot and other key financial measures. The company comes off a record sales nd earnings quarter and fiscal year. Fred's management has been focused on wringing costs out of the system and it has been successful in reducing selling, general and administrative expenses.
The chain's marketing focus is on low, middle, and fixed-income consumers. Almost two-thirds of Fred's stores are located in markets with populations of 15,000 or fewer people.
Stores carry approximately 12,000 items with a mix of both national brands and off-priced products. Household goods, health and beauty aids, food, beverages and tobacco account for about 48 percent of the total sales mix. Pharmacy makes up 35 percent and the remaining 17 percent comes from softline sales of clothing, footwear and accessories. [George Anderson - Moderator]