Go onto this friend's page, underneath the profile pic there should be a box the says "friends". Click that and there's a list of options just above "unfriend" there is a box that says "show in news feed" with a tick, untick that box and it shouldn't be on your news feed anymore.
Hope that makes sense
Thats how its done from my mobile so could possibly be different from a computer.
Don't want to de-friend, but this person posts endless drivel, though is nice enough. They also have FB fests, where they will trawl the internet for cute animal pics and put about 50 on at once. You get my drift. I have put them in a separate friends list, but despite hiding individual statuses repeatedly, still coming through on my main news feed all the time! TIA