<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF REEDS JEWELERS, INC. FOR THE QUARTER ENDED MAY 31, 2000
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          FEB-28-2001
<PERIOD-START>                             MAR-01-2000
<PERIOD-END>                               MAY-31-2000
<CASH>                                             666
<SECURITIES>                                         0
<RECEIVABLES>                                   50,261
<ALLOWANCES>                                     3,845
<INVENTORY>                                     54,777
<CURRENT-ASSETS>                               106,014
<PP&E>                                          36,311
<DEPRECIATION>                                  20,081
<TOTAL-ASSETS>                                 128,918
<CURRENT-LIABILITIES>                           20,826
<BONDS>                                         62,510
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           847
<OTHER-SE>                                      43,456
<TOTAL-LIABILITY-AND-EQUITY>                   128,918
<SALES>                                         24,139
<TOTAL-REVENUES>                                     0
<CGS>                                           11,726
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                12,270
<LOSS-PROVISION>                                 1,090
<INTEREST-EXPENSE>                               1,138
<INCOME-PRETAX>                                   (995)
<INCOME-TAX>                                      (328)
<INCOME-CONTINUING>                               (667)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                      (667)
<EPS-BASIC>                                      (0.08)
<EPS-DILUTED>                                    (0.08)