<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
FINANCIAL STATEMENTS OF REEDS JEWELERS, INC. FOR THE NINE MONTHS ENDED
NOVEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          FEB-28-1997
<PERIOD-START>                             MAR-01-1996
<PERIOD-END>                               NOV-30-1996
<CASH>                                              81
<SECURITIES>                                         0
<RECEIVABLES>                                   38,465
<ALLOWANCES>                                     2,885
<INVENTORY>                                     43,036
<CURRENT-ASSETS>                                83,226
<PP&E>                                          26,820
<DEPRECIATION>                                  16,326
<TOTAL-ASSETS>                                 101,932
<CURRENT-LIABILITIES>                           26,335
<BONDS>                                         41,491
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           422
<OTHER-SE>                                      29,422
<TOTAL-LIABILITY-AND-EQUITY>                   101,932
<SALES>                                         62,739
<TOTAL-REVENUES>                                70,521
<CGS>                                           38,846
<TOTAL-COSTS>                                   38,846
<OTHER-EXPENSES>                                25,574
<LOSS-PROVISION>                                 2,450
<INTEREST-EXPENSE>                               2,636
<INCOME-PRETAX>                                  1,015
<INCOME-TAX>                                       335
<INCOME-CONTINUING>                                680
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       680
<EPS-PRIMARY>                                     0.16
<EPS-DILUTED>                                     0.16