<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the GFSI Holdings, Inc. Audited Financial Statements and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> YEAR YEAR <FISCAL-YEAR-END> JUN-30-1996 JUN-27-1997 <PERIOD-START> JUL-01-1995 JUL-01-1996 <PERIOD-END> JUN-30-1996 JUN-27-1997 <CASH> 139,977 1,116,512 <SECURITIES> 0 0 <RECEIVABLES> 23,055,544 24,284,682 <ALLOWANCES> 472,092 579,093 <INVENTORY> 27,782,953 37,561,766 <CURRENT-ASSETS> 51,308,693 64,597,119 <PP&E> 37,560,280 36,733,961 <DEPRECIATION> 14,521,591 15,186,104 <TOTAL-ASSETS> 78,711,305 96,153,361 <CURRENT-LIABILITIES> 23,614,694 26,036,520 <BONDS> 20,617,878 214,625,000 <PREFERRED-MANDATORY> 0 28,080,000 <PREFERRED> 0 0 <COMMON> 149,100 20 <OTHER-SE> 34,329,633 (174,215,151) <TOTAL-LIABILITY-AND-EQUITY> 78,711,305 96,153,361 <SALES> 169,320,620 183,297,733 <TOTAL-REVENUES> 169,320,620 183,297,733 <CGS> 97,307,746 102,606,239 <TOTAL-COSTS> 136,487,076 147,358,391 <OTHER-EXPENSES> 490 99,326 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 2,608,154 9,098,218 <INCOME-PRETAX> 30,225,880 26,940,450 <INCOME-TAX> 0 1,440,000 <INCOME-CONTINUING> 30,225,880 25,500,450 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 (1,484,451) <CHANGES> 0 0 <NET-INCOME> 30,225,880 24,015,999 <EPS-PRIMARY> 0 0 <EPS-DILUTED> 0 0