Fred's total sales for the 53-week fiscal 2012 increased 4% to $2 billion from $1.9 billion for the same period last year.

Any trickle-down of an improving economy hasn't trickled down to Fred's consumer base, Bruce Efird, Fred's CEO, told analysts Tuesday morning in discussing the discounter's third-quarter results.

Fred's will now offer Western Union prepaid cards at 645 stores in 15 states.

Fred's has named Steven Fitzpatrick to its board of directors.

Discount retailer Fred's realized positive third-quarter results, thanks to "strong customer traffic, higher gross margins in its general merchandise and pharmacy departments, as well as improved management of controllable operating costs," Fred's CEO Bruce Efird said.

Southeastern discount banner Fred's on Thursday morning reported that the consumer continues to be challenged by economic pressures.

Fred's on Thursday reported sales of $179 million for the five weeks ended July 2, representing a relatively flat 0.1% increase, compared with the year-ago period.

Fred's net income increased 16% to $9.5 million, or 24 cents per diluted share, compared with net income of $8.2 million, or 21 cents per diluted share in the year-earlier period.

Fred's on Thursday reported a 3% increase in sales for the five weeks ended April 2, reaching $188.8 million.