Fred’s made a handful of executive moves that it hopes will help turn things around this month. Joseph Anto shed the “Interim” tag to become CEO of the company. Anto joined the company as EVP and CFO early last year, and he’s turning those responsibilities over to Ritwik Chatterjee, who was promoted from VP of Finance.

Also in the mix are two other relative newcomers to the company, both having joined in 2018. Nathaniel Klein is the new COO, and Mike Ladd becomes Chief Stores Officer.

The move comes amidst ongoing struggles at Fred’s. At the end of Q3 in mid-December, comps were down 4.9% for the year, on top of a decrease of 2.3% through the same point in 2017.

The company finalized a deal in January that saw it sell the assets of 179 of its pharmacies to Walgreens, though retail operations continue at many of those stores. Fred’s netted $157M in the deal, which it used to pay down its debt.

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