<TABLE> <S> <C>

<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE WET
SEAL, INC. BALANCE SHEETS AND STATEMENTS OF OPERATIONS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED> 
       
<S>                             <C>                     <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   3-MOS                   3-MOS
<FISCAL-YEAR-END>                          JAN-30-1999             JAN-30-1999             JAN-30-1999
<PERIOD-START>                             FEB-02-1997             MAY-04-1997             AUG-03-1997
<PERIOD-END>                               MAY-03-1997             AUG-02-1997             NOV-01-1997
<CASH>                                      65,631,000              53,842,000              44,616,000
<SECURITIES>                                24,200,000              28,765,000              39,243,000
<RECEIVABLES>                                1,812,000               2,158,000               3,508,000
<ALLOWANCES>                                         0                       0                       0
<INVENTORY>                                 30,271,000              32,296,000              28,066,000
<CURRENT-ASSETS>                           128,807,000             124,756,000             122,553,000
<PP&E>                                      82,631,000              90,449,000              99,138,000
<DEPRECIATION>                              50,072,000              52,922,000              55,755,000
<TOTAL-ASSETS>                             168,837,000             169,744,000             173,395,000
<CURRENT-LIABILITIES>                       65,261,000              63,005,000              61,545,000
<BONDS>                                              0                       0                       0
<PREFERRED-MANDATORY>                                0                       0                       0
<PREFERRED>                                          0                       0                       0
<COMMON>                                     1,354,000               1,355,000               1,355,000
<OTHER-SE>                                  93,281,000              96,872,000             102,351,000
<TOTAL-LIABILITY-AND-EQUITY>               168,837,000             169,744,000             173,395,000
<SALES>                                     95,563,000              94,254,000             104,435,000
<TOTAL-REVENUES>                            95,563,000              94,254,000             104,435,000
<CGS>                                       70,122,000              68,917,000              74,003,000
<TOTAL-COSTS>                               20,197,000              20,470,000              21,932,000
<OTHER-EXPENSES>                                     0                       0                       0
<LOSS-PROVISION>                                     0                       0                       0
<INTEREST-EXPENSE>                           (714,000)               (990,000)               (905,000)
<INCOME-PRETAX>                              5,958,000               5,857,000               9,405,000
<INCOME-TAX>                                 2,443,000               2,440,000               3,926,000
<INCOME-CONTINUING>                          3,515,000               3,417,000               5,479,000
<DISCONTINUED>                                       0                       0                       0
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                                 3,515,000               3,417,000               5,479,000
<EPS-PRIMARY>                                     0.26                    0.25                    0.40
<EPS-DILUTED>                                     0.25                    0.25                    0.39
        

</TABLE>