<PAGE>   1

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

                                   (MARK ONE)

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 For the Quarterly Period Ended March 31, 1998

                                       or

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 For the Transition Period From _______________ to _________________

Commission file number  0-22356

                                 FRIEDMAN'S INC.
-------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

<TABLE>
<S>                                                         <C>
           Delaware                                               58-2058362
--------------------------------                            -------------------
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                              Identificaiton No.)

         4 West State Street
       Savannah, Georgia 31401                                     31401
----------------------------------------                    -------------------
(Address of principal executive offices)                         (Zip Code)
</TABLE>


                                 (912) 233-9333
-------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)

    Indicate by check mark whether the registrant (1) has filed all reports
    required to be filed by Section 13 or 15(d) of the Securities Exchange Act
    of 1934 during the preceding 12 months (or for such shorter periods that the
    registrant was required to file such reports,) and (2) has been subject to
    such filing requirements for the past 90 days. Yes  X    No  
                                                       ---      ---

    Indicate the number of shares outstanding of each of the issuer's classes of
    common stock, as of the latest practical date.

    The number of shares of Registrant's Class A Common Stock $.01 par value per
    share, outstanding at May 15, 1998 was 13,134,411.

    The number of shares of Registrant's Class B Common Stock $.01 par value per
    share, outstanding at May 15, 1998 was 1,492,401.



<PAGE>   2

                                      Index

                                 FRIEDMAN'S INC.

Part I.  Financial Information

Item 1.  Condensed Consolidated Financial Statements (Unaudited)

         Income Statements - Three and six months ended March 31, 1998 and 1997

         Balance Sheets - March 31, 1998 and 1997 and September 30, 1997

         Statements of Cash Flows - Six months ended March 31, 1998 and 1997

         Notes to Condensed Consolidated Financial Statements

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

Part II. Other Information

Item 4.  Submission of Matters to a Vote of Security Holders

Item 6.  Exhibits and Reports on Form 8-K

Signatures




<PAGE>   3
Part I.  Financial Information
Item 1.

                                FRIEDMAN'S INC.
                    Condensed Consolidated Income Statements
                                  (Unaudited)
           (Dollars in thousands, except per share and share amounts)

<TABLE>
<CAPTION>
                                                 Three months ended        Six months ended
                                                      March 31                 March 31
                                               ---------------------    ----------------------
                                                 1998         1997         1998         1997
                                               --------    ---------    ---------    ---------
<S>                                            <C>         <C>          <C>          <C>      
Revenues:
     Net merchandise sales .................   $ 46,803    $  36,156    $ 150,218    $ 125,904
     Finance charges and other .............      9,228        7,075       18,665       14,375
                                               --------    ---------    ---------    ---------
            Total revenues .................     56,031       43,231      168,883      140,279

Operating Costs and Expenses:
     Cost of goods sold including occupancy,
         distribution and buying ...........     25,520       19,370       75,639       62,989
     Selling, general and administrative ...     21,719       15,940       49,964       38,475
     Provision for doubtful accounts .......      3,360        2,951       13,893       11,979
                                               --------    ---------    ---------    ---------
                                                 50,599       38,261      139,496      113,443
                                               --------    ---------    ---------    ---------
Operating income before depreciation
     and amortization ......................      5,432        4,970       29,387       26,836

Depreciation and amortization ..............      1,334          981        2,593        1,923
                                               --------    ---------    ---------    ---------
Income from operations .....................      4,098        3,989       26,794       24,913

Interest income from related party .........       (684)        (415)      (1,243)        (763)
Interest expense ...........................        656          235        1,204          420
                                               --------    ---------    ---------    ---------
                                                    (28)        (180)         (39)        (343)

Income before income taxes .................      4,126        4,169       26,833       25,256
Income tax expense .........................      1,519        1,606       10,262        9,725
                                               --------    ---------    ---------    ---------
Net income .................................   $  2,607    $   2,563    $  16,571    $  15,531
                                               ========    =========    =========    =========

Earnings per share - basic .................   $   0.18    $    0.18    $    1.13    $    1.09
                                               ========    =========    =========    =========

Earnings per share - diluted ...............   $   0.18    $    0.18    $    1.12    $    1.08
                                               ========    =========    =========    =========

Weighted average shares ....................     14,788       14,402       14,755       14,402

Number of stores open ......................        446          335          446          335
</TABLE>


            See notes to condensed consolidated financial statements

<PAGE>   4

                                FRIEDMAN'S INC.
                     Condensed Consolidated Balance Sheets
           (Dollars in thousands, except per share and share amounts)

<TABLE>
<CAPTION>
                                                                                              March 31           September 30
                                                                                         -------------------     ------------
                                                                                           1998       1997           1997
                                                                                         --------   --------      -----------
                                                                                             (Unaudited)            (Note)
<S>                                                                                      <C>        <C>          <C>     
Assets                                                                                                         
Current Assets:                                                                                                
     Cash and cash equivalents .......................................................   $  1,107   $  1,907      $    776
     Accounts receivable, net of allowance for doubtful accounts of $12,377;                                   
         $11,266 at March 31, 1997 and $8,536 at September 30, 1997 ..................     97,637     81,233        76,825
     Inventories, at cost ............................................................    109,320     73,779        78,683
     Other current assets ............................................................      3,788      3,233         2,582
                                                                                         --------   --------      --------
         Total current assets ........................................................    211,852    160,152       158,866
                                                                                                               
Equipment and improvements, net ......................................................     34,580     26,953        29,380
Notes receivable from related party ..................................................     32,228     20,000        25,000
Tradename rights, net ................................................................      6,670         --         6,906
Other receivable .....................................................................      4,250         --         1,187
Other assets .........................................................................      1,779      1,502         2,012
                                                                                         --------   --------      --------
         Total assets ................................................................   $291,359   $208,607      $223,351
                                                                                         ========   ========      ========
                                                                                                               
Liabilities and Equity                                                                                         
Current Liabilities:                                                                                           
     Accounts payable ................................................................   $ 38,393   $ 22,191      $ 26,349
     Accrued liabilities .............................................................      6,349      7,415         6,057
     Income taxes payable ............................................................      4,189      1,905            --
                                                                                         --------   --------      --------
         Total current liabilities ...................................................     48,931     31,511        32,406
                                                                                         --------   --------      --------

Bank debt ............................................................................     54,043     14,026        19,397
                                                                                                               
Stockholders' Equity:                                                                                          
     Preferred stock, par value $.01, 10,000,000 shares authorized                                             
         and none issued .............................................................         --         --            --
     Class A common stock, par value $.01, 25,000,000 shares                                                   
         authorized, 13,129,981 issued and outstanding ...............................        131        128           131
     Class B common stock, par value $.01, 7,000,000 shares                                                    
         authorized, 1,492,401 issued and outstanding ................................         15         15            15
     Additional paid-in-capital ......................................................    122,285    117,278       122,020
     Retained earnings ...............................................................     65,954     45,649        49,382
                                                                                         --------   --------      --------
            Total stockholders' equity ...............................................    188,385    163,070       171,548
                                                                                         --------   --------      --------
            Total liabilities and equity .............................................   $291,359   $208,607      $223,351
                                                                                         ========   ========      ========
</TABLE>

Note:    The balance sheet at September 30, 1997 has been derived from the
         audited financial statements at that date but does not include all the
         information and footnotes required by generally accepted accounting
         principles for complete financial statements.

            See notes to condensed consolidated financial statements



<PAGE>   5

                                FRIEDMAN'S INC.
                Condensed Consolidated Statements of Cash Flows
                                  (Unaudited)
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                                      Six months ended
                                                                          March 31
                                                                    --------------------
                                                                      1998         1997
                                                                    --------    --------
<S>                                                                 <C>         <C>     
Operating Activities:
     Net income .................................................   $ 16,571    $ 15,531
     Adjustments to reconcile net income to cash                 
          used in operating activities:                          
                                                                 
          Depreciation and amortization .........................      2,593       1,923
          Provision for doubtful accounts .......................     13,893      11,979
          Changes in assets and liabilities:                     
               Increase in accounts receivable ..................    (34,705)    (29,991)
               Increase in inventories ..........................    (30,637)     (9,472)
               Increase in other assets .........................       (973)        (92)
               Increase in accounts payable and                   
                  accrued liabilities ...........................     12,046       1,348
               Increase in income taxes payable .................      4,481       1,905
                                                                    --------    --------
                  Net cash used in operating                        
                      activities ................................    (16,731)     (6,869)
Investing Activities:
     Additions to equipment and improvements ....................     (7,558)     (5,394)
     Notes receivable from related party ........................     (7,228)    (20,000)
                                                                    --------    --------
            Net cash used in investing
                activities ......................................    (14,786)    (25,394)
Financing Activities:
     Proceeds from bank borrowings ..............................     34,646      14,026
     Advance related to acquisition of tradename rights .........     (3,063)         --
     Proceeds from employee stock purchases and options exercised        265         182
                                                                    --------    --------
             Net cash provided by financing
                activities ......................................     31,848      14,208
                                                                    --------    --------
Increase (decrease) in cash and cash equivalents ................        331     (18,055)
Cash and cash equivalents, beginning of period ..................        776      19,962
                                                                    --------    --------
Cash and cash equivalents, end of period ........................   $  1,107    $  1,907
                                                                    ========    ========
</TABLE>



            See notes to condensed consolidated financial statements

<PAGE>   6


                                 FRIEDMAN'S INC.

              Notes to Condensed Consolidated Financial Statements

                                   (Unaudited)

                                 March 31, 1998

NOTE A - BASIS OF PRESENTATION

         The accompanying unaudited condensed consolidated financial statements
have been prepared in accordance with generally accepted accounting principles
for interim financial information and with the instructions to Form 10-Q and
Article 10 of Regulation S-X. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. In the opinion of management, all adjustments
(consisting of normal recurring accruals) considered necessary for a fair
presentation have been included. Operating results for the three month and six
month period ended March 31, 1998 are not necessarily indicative of the results
that may be expected for the year ending September 30, 1998. For further
information, refer to the financial statements and footnotes thereto included in
the Friedman's Inc. annual report on Form 10-K for the year ended September 30,
1997.


NOTE B - EARNINGS PER SHARE

         The following table sets forth the computation of basic and diluted
earnings per share for the three and six months ended March 31:

Numbers in thousands, except earnings per share

<TABLE>
<CAPTION>
                                               Three months ended   Six months ended
                                                    March 31,           March 31,
                                                 1998     1997        1998      1997
                                               -------   -------    -------   -------
<S>                                            <C>       <C>        <C>       <C>    
Numerator:
  Numerator for basic and diluted earnings 
    per share - income available to 
    stockholders ...........................   $ 2,607   $ 2,563    $16,571   $15,531
                                               -------   -------    -------   -------

Denominator:
  Denominator for basic earnings per
    share - weighted average shares ........    14,612    14,299     14,608    14,296
  Effect of dilutive securities:
    Employee stock options .................       176       103        147       106
                                               -------   -------    -------   -------
    Denominator for diluted earnings per
     share - adjusted weighted average
     shares and assumed conversions ........    14,788    14,402     14,755    14,402
                                               =======   =======    =======   =======

Basic earnings per share ...................   $  0.18   $  0.18    $  1.13   $  1.09
                                               =======   =======    =======   =======

Diluted earnings per share .................   $  0.18   $  0.18    $  1.12   $  1.08
                                               =======   =======    =======   =======
</TABLE>


NOTE C - RECLASSIFICATIONS

         Certain balances as of March 31, 1997 have been reclassified to conform
to the current year financial statement presentation.


<PAGE>   7
Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

         Total revenues, comprised of net merchandise sales and finance charges
and other revenues, increased 29.6% to $56.0 million for the three months ended
March 31, 1998, from $43.2 million for the three months ended March 31, 1997.
Net merchandise sales increased $10.6 million, or 29.4%, for the three months
ended March 31, 1998 compared to the same period in the prior year. Of the $10.6
million increase in net merchandise sales, $9.4 million of the increase was
attributable to new stores and $1.2 million, or 3.4%, to an increase in
comparable store sales. The increases in total revenues and net merchandise
sales during the three months ended March 31, 1998 were attributable to a 33.1%
increase in the number of stores in operation to 446 stores at March 31, 1998
from 335 stores at March 31, 1997 and the increase in comparable store net
merchandise sales of 3.4%. For the six months ended March 31, 1998, total
revenues increased 20.4% to $168.9 million from $140.3 million for the six
months ended March 31, 1997. Net merchandise sales increased $24.3 million, or
19.3%, for the six months ended March 31, 1998 compared to the same period in
the prior year. Of the $24.3 million increase in net merchandise sales, $27.3
million of the increase was attributable to new stores offset by a $3.0 million,
or 2.5%, decrease in comparable store sales. Increases in total revenues and net
merchandise sales for the six month period ended March 31, 1998 compared with
the same period in the prior year were attributable to an increase of 111 net
new stores during the period, offset by the decrease in comparable store sales.
Finance charges and other revenues increased 30.4% and 29.8% for the three month
and six month periods ended March 31, 1998, respectively, compared to the same
period in the prior year principally due to higher sales levels.

         Cost of goods sold, including occupancy, distribution and buying, for
the three months ended March 31, 1998 was $25.5 million, or 54.5% of net
merchandise sales, compared with $19.4 million, or 53.6% of net merchandise
sales for the same period in the prior year. The increase as a percent of net
merchandise sales was the result of increases in occupancy costs compared to the
same period in 1997. For the six months ended March 31, 1998, cost of goods
sold, including occupancy, distribution and buying, was $75.6 million, or 50.4%
of net merchandise sales compared with $63.0 million, or 50.0% of net
merchandise sales for the same period in the prior year. The increase as a
percent of net merchandise sales was the result of higher occupancy costs offset
by improvements in merchandise cost of sales, compared to the same period last
year.

         Selling, general and administrative expenses increased to $21.7 million
for the three months ended March 31, 1998, from $15.9 million for the three
months ended March 31, 1997. Selling, general and administrative expenses
increased to 38.8% of total revenues for the three months ended March 31, 1998
from 36.9% of total revenues in the comparable period in the prior year. This
increase was attributable to increases in payroll costs as a percentage of total
revenues. For the six months ended March 31, 1998, selling, general and
administrative expenses increased 29.9% to $50.0 million, from $38.5 million for
the six months ended March 31, 1997. Selling, general and administrative
expenses increased to 29.6% of total revenues from 27.4% of total revenues in
the comparable period in the prior year. The increase was attributable primarily
to increases in payroll and advertising costs as a percentage of total revenues.

         The provision for doubtful accounts increased 13.9% to $3.4 million for
the three months ended March 31, 1998, from $3.0 million for the same period in
the prior year. As a percentage of total revenues, the provision for doubtful
accounts decreased to 6.0% of total revenues for the three month period ended
March 31, 1998 from 6.8% of total revenues for the same period in the prior
year. For the six months ended March 31, 1998, the provision for doubtful
accounts increased 16.0% to $13.9 million from $12.0 million during the same
period in the prior year. As a percentage of total revenues, the provision for
doubtful accounts decreased to 8.2% from 8.5% in the comparable period last
year. The decrease as a percentage of total revenues for both the three and six
month periods ended March 31, 1998, were primarily the result of the improved
aging of the accounts receivable portfolio. At March




<PAGE>   8

31, 1998, delinquencies greater than 90 days on a recency basis represented 7.5%
of total accounts receivable as compared to 9.3% at March 31, 1997.

         Depreciation and amortization expenses increased 36.0% to $1.3 million
for the three months ended March 31, 1998 compared to $1.0 million for the three
months ended March 31, 1997. For the six months ended March 31, 1998,
depreciation and amortization expenses increased 34.8% to $2.6 million compared
with $1.9 million during the same period in the prior year. The increases were
the result of increased capital expenditures associated with new and existing
stores and additional amortization expense associated with the acquisition of
all the rights to the "Friedman's Jewelers" tradename.

         Interest income from a related party for the three months ended March
31, 1998 totaled $684,000 compared to $415,000 for the same period in the prior
year. Interest expense for the three months ended March 31, 1998 totaled
$656,000 compared to $235,000 for the same period in the prior year. For the six
months ended March 31, 1998, interest income from a related party totaled $1.2
million compared to $763,000 for the same period in the prior year. For the six
months ended March 31, 1998, interest expense totaled $1.2 million compared to
$420,000 for the same period in the prior year. The increase in interest income
was the direct result of the June 1997 and March 1998, $5.0 million and $7.2
million additional investments in Crescent Jewelers, respectively, while the
increase in interest expense is due primarily to higher outstanding borrowings
on the Company's line of credit. See "Liquidity and Capital Resources."

         As a result of the factors above, net income increased 1.7% to $2.61
million for the three months ended March 31, 1998 from $2.56 million for the
same period in the prior year. Basic and diluted earnings per share for the
three months ended March 31, 1998, was $0.18 per share compared to $0.18 per
share for the comparable period in 1997. Basic weighted average shares
outstanding increased 2.2% to 14,612,000 for the three months ended March 31,
1998 from 14,299,000 for the same period in the prior year and diluted weighted
average shares outstanding increased 2.7% to 14,788,000 for the three months
ended March 31, 1998, from 14,402,000 for the three months ended March 31, 1997.
For the six months ended March 31, 1998, net income increased 6.7% to $16.6
million from $15.5 million for the same period in the prior year. Basic earnings
per share for the six months ended March 31, 1998, was $1.13 per share compared
to $1.09 per share for the comparable period in 1997. Basic weighted average
shares outstanding increased 2.2% to 14,608,000 for the six months ended March
31, 1998 from 14,296,000 for the same period in the prior year. Diluted earnings
per share for the six months ended March 31, 1998, was $1.12 per share compared
to $1.08 per share for the comparable period in 1997. Diluted weighted average
shares outstanding including common stock equivalents increased 2.5% to
14,755,000 for the six months ended March 31, 1998 from 14,402,000 at the same
period in the prior year.


LIQUIDITY AND CAPITAL RESOURCES

         For the six months ended March 31, 1998, net cash used in operating
activities was $16.7 million compared to $6.9 million in the comparable period
last year. While the Company experienced an increase in net income for the six
months ended March 31, 1998 compared to the same period last year, the Company
continued to use cash in its operations.  The increase in cash used in
operations was the result of growth in accounts receivable and inventories, both
principally from the net addition of 111 stores, partially offset by increases
in accounts payable.

         Investing activities used cash of $14.8 million for the six months
ended March 31, 1998 compared to $25.4 million in the comparable period last
year. During the six months ended March 31, 1998, the Company invested $7.2
million in Crescent Jewelers, Inc. and its wholly owned subsidiary Crescent
Jewelers (together "Crescent"), a privately-owned West-coast based specialty
retailer of fine jewelry currently operating 152 stores. The investment is in
the form of a $10 million participation in Crescent's $65 million bank-provided
credit facility, bears the same rate of interest as such facility and is secured
by all of Crescent's assets. This brings the Company's total aggregate
investment in Crescent to $32.2 million. During the six months ended March 31,
1997, the Company invested $20 million in Crescent. The investment is in the
form of a $20 million convertible senior subordinated secured loan. The
three-year loan is junior to Crescent's bank-provided credit facility, bears a
similar rate of interest to such facility and is secured, after the credit
facility, by all of Crescent's assets. The loan is convertible into a





<PAGE>   9



minority equity position. Capital spending for the six months ended March 31,
1998 was $7.6 million compared to $5.4 million in the comparable period last
year. Capital spending for the six months ended March 31, 1998 and March 31,
1997, was primarily for the net addition of 62 and 34 stores, respectively.

         Financing activities provided $31.8 million for the six months ended
March 31, 1998 compared to $14.2 million during the comparable period last year.
During the six months ended March 31, 1998, the Company had bank borrowings of
$34.6 million and at March 31, 1998, had $26.0 million available under its $80
million revolving credit facility.

         On May 19, 1997, the Company acquired all the rights of A.A. Friedman's
Co., Inc. of Augusta, Georgia ("AAFCO") to the "Friedman's Jewelers" tradename.
In connection with the tradename rights acquisition, the Company issued to AAFCO
250,000 shares (in escrow) of its Class A common stock.  The Company also agreed
to pay AAFCO the amount by which the sales price of the stock at June 30, 1999
(the escrow settlement date) is less than $28.25.  Prior to the sale of the
shares, the Company has agreed to make cash advance payments to AAFCO through an
escrow arrangement which would pre-fund the minimum sales proceeds. As of March
31, 1998, the Company has advanced $7.1 million (the full amount to be advanced)
to AAFCO under this arrangement.

         On July 14, 1997, the Company completed a new $80.0 million, two year
revolving credit facility maturing on April 30, 1999, with its existing banks
and includes the addition of a third institution. The borrowing rate for the new
credit facility is either the bank's offered rate plus 0.875% or at the
Company's option, LIBOR plus 0.875%. The new facility also contains certain
financial covenants and is secured by inventory and accounts receivable. At
March 31, 1998, $54.0 million was outstanding under the lines, with interest
payable ranging from 6.32% to 7.01%.





<PAGE>   10


Part II. Other Information

Item 4.  Submission of Matters to a Vote of Security Holders

         At the Annual Meeting of the Company held on February 26, 1998, the
         following matters were brought before and voted upon by the
         shareholders.

                              Class A Common Stock
                              --------------------

         1. A proposal to elect the following persons to the Board of Directors
         to serve until the 1999 Annual Meeting of Stockholders of the Company:

                                                For       Withhold Authority
                                                ---       ------------------
               John E. Cay                  10,505,340          63,495
               Robert W. Cruickshank        10,505,640          63,195
               David B. Parshall            10,504,640          64,195

                              Class B Common Stock
                              --------------------

         1. A proposal to elect the following persons to the Board of Directors
         to serve until the 1999 Annual Meeting of Stockholders of the Company:

                                                For       Withhold Authority
                                                ---       ------------------
               Bradley J. Stinn              1,492,401           0
               Sterling B. Brinkley          1,492,401           0
               Linda McFarland Jenkins       1,492,401           0
               Robert S. Morris              1,492,401           0
               Mark C. Pickup                1,492,401           0
               Richard Ungaro                1,492,401           0

         2. A proposal to approve the 1997 Stock Option Plan:


                   For        Against        Abstain       Broker Non-Votes
                   ---        -------        -------       ----------------
                1,492,401        0              0                0

         3. A proposal to ratify the selection of Ernst & Young LLP as
         independent certified public accountants of the Company for the fiscal
         year ending September 30, 1998:   

                   For        Against        Abstain       Broker Non-Votes
                   ---        -------        -------       ----------------
                1,492,401        0              0                0


Item 6.  Exhibits and Reports on Form 8-K

         The Company filed no reports on Form 8-K for the quarter ended March
         31, 1998.
<PAGE>   11


EXHIBIT INDEX

Exhibit
Number

3.1     Registrant's Certificate of Incorporation, as amended (incorporated by
        reference from Exhibit 4(a) to the Registrant's Registration Statement
        on Form S-8 (File No. 333-17755) dated March 21, 1997).

3.2     Bylaws of the Registrant (incorporated by reference from Exhibit 3.2 to
        the Registrant's Registration Statement on Form S-1 (File No.
        33-67662), and amendments thereto, originally filed on August 19,
        1993).

4.1     See Exhibits 3.1 and 3.2 for provisions of the Certificate of
        Incorporation and Bylaws of the Registrant defining rights of holders
        of Class A and Class B Common Stock of the Registrant.

4.2     Form of Class A Common Stock certificate of the Registrant
        (incorporated by reference from Exhibit 4.2 to the Registrant's
        Registration Statement on Form S-1 (File No. 33-67662), and amendments
        thereto, originally filed on August 19, 1993).

10.1    Participation Agreement dated as of April 27, 1998, between LaSalle
        National Bank and the Company.

27      Financial Data Schedule (for SEC use only)



<PAGE>   12



SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized on May 15, 1998.



                                       FRIEDMAN'S INC.

                                  BY:  /s/ Victor M. Suglia
                                     ------------------------------------
                                     Victor M. Suglia
                                     Senior Vice President and Chief Financial
                                       Officer