<ARTICLE> 5 <CIK> 0000724571 <NAME> Fred's, Inc. <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JAN-29-2000 <PERIOD-START> APR-30-2000 <PERIOD-END> JUL-29-2000 <CASH> 1,158,000 <SECURITIES> 0 <RECEIVABLES> 11,317,000 <ALLOWANCES> (528,000) <INVENTORY> 153,818,000 <CURRENT-ASSETS> 169,261,000 <PP&E> 162,260,000 <DEPRECIATION> (84,891,000) <TOTAL-ASSETS> 252,176,000 <CURRENT-LIABILITIES> 58,706,000 <BONDS> 42,815,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 68,081,000 <OTHER-SE> 82,574,000 <TOTAL-LIABILITY-AND-EQUITY> 252,176,000 <SALES> 180,806,000 <TOTAL-REVENUES> 180,806,000 <CGS> 131,635,000 <TOTAL-COSTS> 131,635,000 <OTHER-EXPENSES> 45,960,000 <LOSS-PROVISION> 76,000 <INTEREST-EXPENSE> 763,000 <INCOME-PRETAX> 2,372,000 <INCOME-TAX> 645,000 <INCOME-CONTINUING> 1,727,000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,727,000 <EPS-BASIC> 0.14 <EPS-DILUTED> 0.14