<TABLE> <S> <C>


<ARTICLE>                     5
<MULTIPLIER>                  1,000
<CURRENCY>                    U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                                                    MAY-31-1998
<PERIOD-START>                                                       JUN-01-1997
<PERIOD-END>                                                         AUG-31-1997
<EXCHANGE-RATE>                                                                1
<CASH>                                                                    22,253
<SECURITIES>                                                                   0
<RECEIVABLES>                                                             51,513
<ALLOWANCES>                                                                   0
<INVENTORY>                                                              413,133
<CURRENT-ASSETS>                                                               0
<PP&E>                                                                     3,961
<DEPRECIATION>                                                                 0
<TOTAL-ASSETS>                                                           525,518
<CURRENT-LIABILITIES>                                                          0
<BONDS>                                                                  295,679
<PREFERRED-MANDATORY>                                                         71
<PREFERRED>                                                                    0
<COMMON>                                                                       0
<OTHER-SE>                                                               162,033
<TOTAL-LIABILITY-AND-EQUITY>                                             525,518
<SALES>                                                                  185,437
<TOTAL-REVENUES>                                                         190,340
<CGS>                                                                    153,410
<TOTAL-COSTS>                                                                  0
<OTHER-EXPENSES>                                                               0
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                           521
<INCOME-PRETAX>                                                           13,222
<INCOME-TAX>                                                               5,403
<INCOME-CONTINUING>                                                        7,819
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                              322
<CHANGES>                                                                      0
<NET-INCOME>                                                               7,497
<EPS-PRIMARY>                                                               1.09
<EPS-DILUTED>                                                                .79
                                                                         

</TABLE>