<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATMENTS OF REEDS JEWELERS, INC. FOR THE THREE MONTHS ENDED MAY 31,
1995, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          FEB-29-1996
<PERIOD-START>                             MAR-01-1995
<PERIOD-END>                               MAY-31-1995
<CASH>                                             255
<SECURITIES>                                         0
<RECEIVABLES>                                   36,809
<ALLOWANCES>                                     2,777
<INVENTORY>                                     31,281
<CURRENT-ASSETS>                                68,378
<PP&E>                                          21,566
<DEPRECIATION>                                  11,630
<TOTAL-ASSETS>                                  81,060
<CURRENT-LIABILITIES>                           17,724
<BONDS>                                         34,006
<COMMON>                                           382
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                      25,826
<TOTAL-LIABILITY-AND-EQUITY>                    81,060
<SALES>                                         17,145
<TOTAL-REVENUES>                                19,516
<CGS>                                           10,153
<TOTAL-COSTS>                                   10,153
<OTHER-EXPENSES>                                 7,380
<LOSS-PROVISION>                                   581
<INTEREST-EXPENSE>                                 832
<INCOME-PRETAX>                                    570
<INCOME-TAX>                                       188
<INCOME-CONTINUING>                                382
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       382
<EPS-PRIMARY>                                      .10
<EPS-DILUTED>                                      .10