Fred Meyer Inc. reported net income for the third fiscal quarter, which ended Nov. 10, increased 7.4 percent to $3.2 million or 13 cents per share up from $3 million reported in 1989's third quarter. Net earnings per share were 13 cents for the third quarter 1990 up from 12 cents for the prior year's quarter.

For the 40-week period, net income increased 11.2 percent to $18 million or 73 cents per share up from $16.2 million or 65 cents per share for the same period last year.Net sales for the 1990 third quarter rose 7.5 percent to $541.9 million.