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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 19, 2001
Fred's, Inc.
(Exact name of registrant as specified in its charter)
Tennessee
(State or other jurisdiction of incorporation)
000-19288
(Commission File Number)
62-0634010
(IRS Employer Identification Number)
4300 New Getwell Road, Memphis, Tennessee 38118
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (901) 365-8880
N/A
(Former name or former address, if changed since last report)
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Item 5. Other Events
On March 19, 2001, Fred's, Inc. issued a press release announcing the
appointment of Thomas H. Tashjian to its Board of Directors. A copy of the press
release is included as Exhibit 99.1 to this report.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits:
Exhibit
Number Description
99.1 Press release issued by Fred's, Inc. dated March 19, 2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 28, 2001
FRED'S, INC.
By: /s/ Michael J. Hayes
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Michael J. Hayes, Chairman and Chief
Executive Officer
Exhibit Index
Exhibit
Number Description
99.1 Press release issued by Fred's, Inc. dated March 19, 2001.
Exhibit 99.1
THOMAS H. TASHJIAN NAMED TO FRED'S BOARD OF DIRECTORS
MEMPHIS, Tenn. (March 19, 2001) -- Fred's, Inc. (Nasdaq/NM: FRED) today
announced that Thomas H. Tashjian (age 46) has been named to the Company's Board
of Directors. His appointment increases the number of directors on the Board to
six, four of whom are outside Directors.
For the last five years, Tashjian has served as a managing director and
consumer group leader at Banc of America Montgomery Securities in San Francisco,
where he provided the firm's view on the retailing industry. Prior to that, he
held similar positions at First Manhattan Company, Seidler Companies, and
Prudential Securities. His earlier retail operating experience was in discount
retailing at the Ayrway Stores, which were acquired by Target, and in the
restaurant business at Noble Roman's.
Tashjian has been a member of Institutional Investor's All-Star team many
times and has also been on The Wall Street Journal's stock-picking All-Star
list. He is a noted speaker on the retailing industry and often quoted in
investment and consumer journals. Tashjian earned his MBA from Tulane University
and B.S. at Butler University.
Commenting on the appointment, Michael J. Hayes, Chairman and Chief
Executive Officer of Fred's, said, "We are pleased and fortunate to have Tom
join our Board. He has been involved in the U.S. retailing industry for the last
25 years, always with a particular interest toward discount retailing. With this
deep understanding of retail and having spent the past 16 years as a respected
Wall Street investment analyst, Tom has a unique vantage point on baseline
industry standards and performance. Considering his experience and perspective,
as well as his insight regarding the dynamics of our business, we expect that
his participation as a Director will help accelerate our ongoing efforts to
improve Fred's performance. We look forward to his counsel and contributions in
the future as we continue to pursue our growth plans and long-range objectives."
Fred's Inc. operates 350 discount general merchandise stores, including 26
franchised Fred's stores in the southeastern United States. For more information
about the Company, visit Fred's website on the Internet at www.fredsinc.com.
Comments in this news release that are not historical facts are
forward-looking statements that involve risks and uncertainties which could
cause actual results to differ materially from those projected in the
forward-looking statements. These risks and uncertainties include, but are not
limited to, general economic trends, changes in consumer demand or purchase
patterns, delays or interruptions in the flow of merchandise between the
Company's distribution center and its stores or between the Company's suppliers
and same, a disruption in the Company's data processing services, costs, and
delays in acquiring or developing new store sites, and other contingencies
discussed in the Company's Securities and Exchange Commission filings. Fred's
undertakes no obligation to release revisions to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unforeseen events, except as required to be reported
under the rules and regulations of the Securities and Exchange Commission.