VOL. 110 | NO. 174 | Monday, September 9, 1996
Freds Inc. reported Thursday that sales for the four-week period ended Aug. 31 increased .7 percent to $30.2 million, compared with $30 million in the year-earlier period. On a comparable store basis, August sales declined 3.2 percent. For the first seven months of fiscal 1996, sales increased 4.9 percent to $23.1 million compared with $220.4 million in the same period last year. Comparable store sales for the seven-month period increased 1.5 percent from the year-earlier period.
Smith & Nephew has acquired the fracture splinting business of Parker Medical Associates Limited Partnership for $44 million. Parker is a manufacturer and distributor of multilayer, coated glass-fiber fracture splinting products. Based in Charlotte, N.C., Parker had operating profits of $3.2 million in 1995 on sales of $10.5 million. The assets acquired have a value of $3.6 million.
The PIP Printing location at 540 S. Mendenhall, operated by Cowles Enterprises Inc., was awarded the companys 1996 Visionary Award and was one of only 21 locations worldwide to also receive the Quest for Excellence Genesis customer service award. The location recently was named one of a group of 15 PIP franchisees from around the United States participating in the initial marketing and operation of a new, digital capture-and-print photo system developed by Kodak.
Kenneth W. Plunk, president and director of Union Planters National Bank, will speak on the outlook for banking to the Memphis chapter of the Financial Executives Institute on Sept. 17 at 6 p.m. at Union Planters, 6200 Poplar Ave.
Thomas & Betts Corp. has announced that its board of directors declared a regular quarterly cash dividend of 28 cents per share. The dividend is payable on Oct. 1 to shareholders of record at the close of business on Sept. 16.
Earvin Clay and Paul Anders, owners of Beeper Connection at 2764 Lamar Ave., have added U-Haul rentals to the services they offer customers. Clay and Anders have operated Beeper Connection since 1995.