<ARTICLE> 5
<CIK> 0000724571
<NAME> FRED'S, INC.
<MULTIPLIER> 1,000
       
                                                  
<PERIOD-TYPE>                   3-MOS                   9-MOS
<FISCAL-YEAR-END>                          JAN-30-1999             JAN-30-1999
<PERIOD-START>                             AUG-02-1998             AUG-02-1998
<PERIOD-END>                               OCT-31-1998             OCT-31-1998
<CASH>                                             499                     499
<SECURITIES>                                         0                       0
<RECEIVABLES>                                    9,150                   9,150
<ALLOWANCES>                                     (784)                   (784)
<INVENTORY>                                    137,133                 137,133
<CURRENT-ASSETS>                               152,385                 152,385
<PP&E>                                         137,326                 137,326
<DEPRECIATION>                                (69,284)                (69,284)
<TOTAL-ASSETS>                                 227,786                 227,786
<CURRENT-LIABILITIES>                           77,227                  77,227
<BONDS>                                         13,812                  13,812
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                        66,945                  66,945
<OTHER-SE>                                      69,802                  69,802
<TOTAL-LIABILITY-AND-EQUITY>                   227,786                 227,786
<SALES>                                        142,339                 428,130
<TOTAL-REVENUES>                               142,339                 428,130
<CGS>                                          100,955                 307,432
<TOTAL-COSTS>                                  100,955                 307,432
<OTHER-EXPENSES>                                36,930                 107,237
<LOSS-PROVISION>                                     6                      18
<INTEREST-EXPENSE>                                 404                     620
<INCOME-PRETAX>                                  4,044                  12,823
<INCOME-TAX>                                     1,496                   4,744
<INCOME-CONTINUING>                              2,548                   8,079
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                     2,548                   8,079
<EPS-PRIMARY>                                    $0.22                   $0.68
<EPS-DILUTED>                                    $0.21                   $0.67