<ARTICLE> 5 <CIK> 0000796226 <NAME> THE LESLIE FAY COMPANY, INC. <MULTIPLIER> 1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> JAN-03-1998 <PERIOD-START> DEC-29-1996 <PERIOD-END> JAN-03-1998 <CASH> 19,813 <SECURITIES> 2,989 <RECEIVABLES> 12,983 <ALLOWANCES> 3,236 <INVENTORY> 26,701 <CURRENT-ASSETS> 60,057 <PP&E> 859 <DEPRECIATION> 14 <TOTAL-ASSETS> 61,051 <CURRENT-LIABILITIES> 20,604 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 34 <OTHER-SE> 29,180 <TOTAL-LIABILITY-AND-EQUITY> 61,051 <SALES> 271,075 <TOTAL-REVENUES> 271,075 <CGS> 205,995 <TOTAL-COSTS> 46,403 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 1,708 <INCOME-PRETAX> 16,969 <INCOME-TAX> 1,128 <INCOME-CONTINUING> 15,841 <DISCONTINUED> 0 <EXTRAORDINARY> 132,962 <CHANGES> 0 <NET-INCOME> 148,803 <EPS-PRIMARY> 0 <EPS-DILUTED> 0