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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LnRPsfDvgUwdzBpwmVqH+YMml6+53QffdUH/cZJLE8LV7B2PacJzS/PdtqThHHOL
 +DEabJCpnY3CBkr+RXN5IQ==

<SEC-DOCUMENT>0001005794-03-000181.txt : 20030605
<SEC-HEADER>0001005794-03-000181.hdr.sgml : 20030605
<ACCEPTANCE-DATETIME>20030605171727
ACCESSION NUMBER:		0001005794-03-000181
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030605
FILED AS OF DATE:		20030605

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SHORE JERRY
		CENTRAL INDEX KEY:			0001182961

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14565
		FILM NUMBER:		03734549

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 4300 NEW GETWELL
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38118

	MAIL ADDRESS:	
		STREET 1:		P O BOX 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:			0127

	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>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-06-05</periodOfReport>
    <issuer>
        <issuerCik>0000724571</issuerCik>
        <issuerName>FREDS INC</issuerName>
        <issuerTradingSymbol>FRED</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId>
            <rptOwnerCik>0001182961</rptOwnerCik>
            <rptOwnerName>SHORE JERRY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>VP &amp;amp; CFO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeSecurity><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2003-06-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2500</value><footnoteId id="F2"/></transactionShares><transactionValue><value>8</value></transactionValue><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6250</value><footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwn
ership><value></value></natureOfOwnership></ownershipNature></nonDerivativeSecurity><derivativeSecurity><securityTitle><value>Option on Class A Common Stock</value></securityTitle><conversionOrExercisePrice><value>8</value></conversionOrExercisePrice><transactionDate><value>2003-06-05</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2500</value></transactionShares><transactionValue><value>8</value></transactionValue><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2001-03-02</value><footnoteId id="F2"/></exerciseDate><expirationDate><value>2005-03-02</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class A Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2500</value></underlyingSecurityShares></und
erlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>14375</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value></value></natureOfOwnership></ownershipNature></derivativeSecurity><footnotes><footnote id="F1">3,750 of these shares are Restricted until April 17, 2005.</footnote><footnote id="F2">Mr. Shore purchased these shares pursuant to an option to purchase up to 16,875 shares granted on March 2, 2000  and vesting in equal thirds on the first three anniversaries (2001, 2002 and 2003) from the 1993 Long-Term Incentive Plan.</footnote></footnotes><ownerSignature><signatureName>Jerry Shore</signatureName><signatureDate>2003-06-05</signatureDate></ownerSignature></ownershipDocument>

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