-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 PYbIqSxYbe8FiV+BfjKQ8IsZaerH7u/hhC06lnRSUvtIFpEEIjJoyhyIuw0woRa3
 8yUYndW1f3ZSMMu4Y1wMMA==

<SEC-DOCUMENT>0001005477-08-006140.txt : 20081020
<SEC-HEADER>0001005477-08-006140.hdr.sgml : 20081020
<ACCEPTANCE-DATETIME>20081020141936
ACCESSION NUMBER:		0001005477-08-006140
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081020
FILED AS OF DATE:		20081020
DATE AS OF CHANGE:		20081020

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sowa Tom
		CENTRAL INDEX KEY:			0001448227

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14565
		FILM NUMBER:		081131145

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		901-238-2737

	MAIL ADDRESS:	
		STREET 1:		4300 NEW GETWELL
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38118

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FREDS INC
		CENTRAL INDEX KEY:			0000724571
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-VARIETY STORES [5331]
		IRS NUMBER:				620634010
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			0131

	BUSINESS ADDRESS:	
		STREET 1:		4300 NEW GETWELL RD
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38118
		BUSINESS PHONE:		9013658880

	MAIL ADDRESS:	
		STREET 1:		4300 NEW GETWELL ROAD
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38118

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BADDOUR INC
		DATE OF NAME CHANGE:	19910620
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2008-10-20</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000724571</issuerCik>
        <issuerName>FREDS INC</issuerName>
        <issuerTradingSymbol>FRED</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001448227</rptOwnerCik>
            <rptOwnerName>Sowa Tom</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4300 NEW GETWELL ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MEMPHIS</rptOwnerCity>
            <rptOwnerState>TN</rptOwnerState>
            <rptOwnerZipCode>38118</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>Anita Ryan by power of attorney</signatureName>
        <signatureDate>2008-10-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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