Discount store operator Fred's Inc. (Nasdaq:FRED) said this morning that comparable store sales for September increased 1.1% compared with an increase of 1% in September of 2007. However, the company lowered its third-quarter earnings guidance due to the financial crisis and weakening economic environment for the consumer.

Shares were halted in pre-market trading. For detailed price information and news stories on Fred's, click FRED. 

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