<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, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          FEB-28-1998
<PERIOD-START>                             MAR-01-1997
<PERIOD-END>                                NOV-3-1997
<CASH>                                              45
<SECURITIES>                                         0
<RECEIVABLES>                                   39,375
<ALLOWANCES>                                     3,040
<INVENTORY>                                     45,323
<CURRENT-ASSETS>                                86,145
<PP&E>                                          28,755
<DEPRECIATION>                                  16,541
<TOTAL-ASSETS>                                 106,460
<CURRENT-LIABILITIES>                           24,503
<BONDS>                                         45,190
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           422
<OTHER-SE>                                      32,436
<TOTAL-LIABILITY-AND-EQUITY>                   106,460
<SALES>                                         63,165
<TOTAL-REVENUES>                                71,703
<CGS>                                           40,678
<TOTAL-COSTS>                                   40,678
<OTHER-EXPENSES>                                26,039
<LOSS-PROVISION>                                 2,743
<INTEREST-EXPENSE>                               2,647
<INCOME-PRETAX>                                   (404)
<INCOME-TAX>                                      (126)
<INCOME-CONTINUING>                               (278)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                    (59)
<CHANGES>                                            0
<NET-INCOME>                                      (337)
<EPS-PRIMARY>                                    (0.08)
<EPS-DILUTED>                                    (0.08)