SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-QSB

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended April 29, 2001

OR

[   ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d)
OF THE EXCHANGE ACT
For the transition period from __________ to __________

Commission file number 33-42701

PREMIER CONCEPTS, INC.(Exact Name of Small Business Issuer as
Specified in its Charter)

|Colorado(State or other jurisdiction
of incorporation or organization) | 84-1186026I.R.S. Employer
Identification number
|---------------------------------------------------------------------- | -----------------------------------------------

3033 South Parker Road, Suite 120, Aurora, Colorado      80014

(303) 338-1800(Issuer's telephone number, including area code)

____________________________________________________
(Former name, former address and former fiscal year,
if changed since last report)

Check whether the Issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the last 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes [X]   No [   ]

As of June 13, 2001, the Registrant had 1,530,574 shares of its $.002 par value Common Stock outstanding.

Transitional Small Business Disclosure Format (check one):  Yes [   ]  No [X]

INDEX

PART I.      FINANCIAL INFORMATION                            
                                         
Page

|Item 1. | Financial Statements                                                                   | 3 
|------- | -------------------------------------------------------------------------------------- | --
|        | Balance Sheets as of April 29, 2001 and January 28, 2001                               | 4 
|        | Statements of Operations for the Three Months Ended April 29, 2001
and April 30, 2000  | 5 
|        | Statements of Cash Flows for the Three Months Ended April 29, 2001
and April 30, 2000  | 6 
|        | Notes to Consolidated Financial Statements                                             | 7 
|Item 2. | Management's Discussion and Analysis of Financial Conditions and Results of Operations | 7 
|        | Liquidity and Capital Resources                                                        | 7 
|        | Results of Operations                                                                  | 10

PART II.      OTHER INFORMATION                            
                                          
       
14

|Item 1. | Legal Proceedings                                   | 14
|------- | --------------------------------------------------- | --
|Item 2. | Changes in Securities                               | 14
|Item 3. | Defaults Upon Senior Securities                     | 14
|Item 4. | Submission of Matters to a Vote of Security Holders | 14
|Item 5. | Other Information                                   | 14
|Item 6. | Exhibits and Reports on Form 8-K                    | 14

PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

The method of financial reporting is a fifty-two - fifty-three (52-53) week fiscal year ending on the last Sunday in January of each year.  The accompanying balance sheet at April 29, 2001,
statements of operations for the three months ended April 29, 2001, and April 30, 2000, and statements of cash flows for the three months ended April 29, 2001, and April 30, 2000 are unaudited but reflect all adjustments which are, in the opinion of
management, necessary to a fair statement of the financial position and results of operations for the interim period presented.  The interim financial statements are not necessarily indicative of results of operations expected for the fiscal year.  The
balance sheet as of January 28, 2001 is derived from the audited financial statements, but does not include all disclosures required by generally accepted accounting principles.  As a result, these financial statements should be read in conjunction with
the Premier Concepts Form 10-KSB for the year ended January 28, 2001.

Forward-Looking Statements

In addition to historical information, this Quarterly Report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and are thus prospective.  The
forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements.  Factors that might cause such a difference include,
but are not limited to, competitive pressures, changing economic conditions, those discussed in the Section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations," and other factors, some of which will be outside
the control of Premier Concepts.  Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof.  Premier Concepts undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that arise after the date hereof.  Readers should refer to and carefully review the information in future documents Premier Concepts files with the Securities and Exchange Commission.



PREMIER CONCEPTS, INC.
BALANCE SHEETS
AS OF APRIL 29, 2001 AND JANUARY 28, 2001
(UNAUDITED)

|                                                                                                                                                                                                               |       |           | April 29,2001  | January 28,2001
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | --------- | -------------- | ---------------
|ASSETS                                                                                                                                                                                                         |       |           |                |                
|Current Assets:                                                                                                                                                                                                |       |           |                |                
|Cash & Cash Equivalents                                                                                                                                                                                        |       |           | $      375,142 | $     691,693  
|Merchandise Inventories                                                                                                                                                                                        |       |           | 1,680,101      | 1,515,879      
|Prepaid Expenses & Other Current Assets                                                                                                                                                                        |       |           | 204,261        | 185,873        
|Total Current Assets                                                                                                                                                                                           |       |           | 2,259,504      | 2,393,445      
|Property and Equipment, net                                                                                                                                                                                    |       |           | 1,820,819      | 1,938,515      
|Other Assets:                                                                                                                                                                                                  |       |           |                |                
|Trademarks, net                                                                                                                                                                                                |       |           | 35,134         | 38,234         
|Website Development Costs, net                                                                                                                                                                                 |       | 98,816    | 110,516       
|Other                                                                                                                                                                                                          |       |           | 68,032         | 68,032         
|Total Assets                                                                                                                                                                                                   |       |           | $ 4,282,305    | $ 4,548,742    
|LIABILITIES & STOCKHOLDERS' EQUITY                                                                                                                                                                             |       |          
|Current Liabilities:                                                                                                                                                                                           |       |           |                |                
|Notes Payable                                                                                                                                                                                                  |       |           | $     343,671  | $    373,474   
|Accounts Payable                                                                                                                                                                                               |       | 1,059,732 | 1,073,032     
|Accrued Liabilities                                                                                                                                                                                            |       |           | 556,026        | 458,528        
|Total Current Liabilities                                                                                                                                                                                      |       |           | 1,959,429      | 1,905,034      
|Deferred Rent                                                                                                                                                                                                  |       |           | 219,890        | 233,619        
|Total Liabilities                                                                                                                                                                                              |       |           | 2,179,319      | 2,138,653      
|Stockholders' Equity:                                                                                                                                                                                          |       |           |                |                
|Preferred Stock, $.10 par value, 20,000,000 shares authorized; no shares
           issued and outstanding                                                                                                     | -     | -        
|Common Stock, $.002 par value; 850,000,000 shares authorized; 1,530,574
           shares issued and outstanding at April 29, 2001, and 1,520,574 shares
           issued and outstanding at January 28, 2001 | 3,061 | 3,041    
|Additional Paid-in Capital                                                                                                                                                                                     |       |           | 7,197,951      | 7,134,971      
|Accumulated Deficit                                                                                                                                                                                            |       |           | (5,098,026)    | (4,727,923)    
|Total Stockholders' Equity                                                                                                                                                                                     |       |           | 2,102,986      | 2,410,089      
|                                                                                                                                                                                                               |       |           |                |                
|Total Liabilities & Equity                                                                                                                                                                                     |       |           | $    4,282,305 | $  4,548,742   

PREMIER CONCEPTS, INC.
STATEMENTS OF OPERATIONS

|                                               | Three Months Ended                        | Three Months Ended
|---------------------------------------------- | ----------------------------------------- | ------------------
|                                               | April 29, 2001                            | April 30, 2000    
|Total Revenues                                 | 2,421,803                                 | 2,647,577         
|Cost of Goods Sold                             | 745,665                                   | 816,670           
|                                               | Gross Margin                              | 1,676,138         
|Operating Expenses:                            |                                           |                   
|                                               | Personnel                                 | 867,438           
|                                               | Occupancy                                 | 695,182           
|                                               | Other Selling, General and Administrative | 342,318           
|                                               | Depreciation and Amortization             | 139,524           
|                                               | Total Operating Expenses                  | 2,044,462         
|Operating Loss                                 | (368,324)                                 | (294,389)         
|Other Income (Expenses):                       |                                           |                   
|                                               | Interest, net                             | (4,069)           
|                                               | Other                                     | 2,290             
|Other, net                                     | (1,779)                                   | (2,526)           
|Net Loss                                       | $   (370,103)                             | $    (296,915)    
|Net Loss Per Common Share (Basic and Diluted): | $        
(0.24)                          | $         
(0.21) 
|Weighted Average Shares Outstanding            | 1,526,508                                 | 1,389,632         

PREMIER CONCEPTS, INC.
STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED APRIL 29, 2001 AND APRIL 30, 2000
(UNAUDITED)

|                                                        | Three Months Ended                                                       | Three Months Ended                                    
|------------------------------------------------------- | ------------------------------------------------------------------------ | ------------------------------------------------------
|                                                        | April 29, 2001                                                           | April 30, 2000                                        
|Cash Flows From Operating Activities:                   |                                                                          |                                                       
|                                                        | Net Loss                                                                 | $    (370,103)                                        
|                                                        | Adjustments to reconcile net loss to net cash from operating activities: |                                                       
|                                                        |                                                                          | Amortization of stock and warrants issued for
services
|                                                        |                                                                          | Depreciation and amortization                         
|                                                        | Changes in operating assets and liabilities:                             |                                                       
|                                                        |                                                                          | (Increase) decrease in:                               
|                                                        |                                                                          |                                                       
|                                                        |                                                                          |                                                       
|                                                        |                                                                          | Increase (decrease) in:                               
|                                                        |                                                                          |                                                       
|                                                        |                                                                          |                                                       
|                                                        |                                                                          |                                                       
|Cash Flows From Investing Activities:                   |                                                                          |                                                       
|                                                        | Capital expenditures for property and equipment                          | (7,027)                                               
|                                                        | Capital expenditures for development of website                          | -                                                     
|                                                        |                                                                          |                                                       
|Cash Flows From Financing Activities:                   |                                                                          |                                                       
|                                                        | Proceeds from exercise of options and warrants                           | -                                                     
|                                                        | Proceeds from sales of warrants                                          | -                                                     
|                                                        | Increase in restricted cash from exercise of options and                 |                                                       
|                                                        |                                                                          | warrants, and sale of warrants                        
|                                                        | Issuance of note payable                                                 |                                                       
|                                                        | Payments on notes payable                                                | (38,538)                                              
|                                                        |                                                                          |                                                       
|Decrease in Cash and Cash Equivalents                   | (316,551)                                                                | (108,687)                                             
|Cash & Cash Equivalents, beginning of period            | 691,603                                                                  | 357,653                                               
|Cash & Cash Equivalents, end of period                  | $      375,142                                                           | $      248,966                                        
|Supplemental Schedule of Cash Flow Information:         |                                                                          |                                                       
|Cash paid for interest                                  | $       10,196                                                           | $        
11,890                                      
|Non-cash transaction - Common stock issued for services | $       10,000                                                           | $                  
-                                 
|Non-cash transaction - Warrants issued for services     | $        53,000                                                          | $                 
-                                  

PREMIER CONCEPTS, INC.

Commitments and Contingencies

Litigation.  Premier Concepts is subject to legal proceedings, claims and liabilities, which arise in the ordinary course of its business. In the opinion of management, the disposition of these actions will not have a material adverse effect upon
Premier's financial position or results of operations.  (See PART II.  OTHER INFORMATION--Item 1.  Legal Proceedings.)

Seasonality and Quarterly Fluctuations

Our faux jewelry chain, operating under the trade names Impostors, Elegant Pretenders and Joli Joli, historically has realized lower sales during the first three quarters which has resulted in
incurring operating losses during those quarters.  To this end, we have generated an operating loss during the three months ended April 29, 2001 of $368,324, as compared to an operating loss of $294,389 for the three months ended April 30, 2000.

Our retail business is highly seasonal with our mall locations generating approximately 20% of revenues during the December holiday season.  Our 10 tourist locations experience fluctuations, based
upon such factors as seasonality, economic conditions and other factors affecting tourism in their particular locations.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL
                 
CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with the Financial Statements and Notes thereto appearing elsewhere in this report.

Retail Fiscal Year

The method of financial reporting is a fifty-two to fifty-three (52-53) week fiscal year ending on the last Sunday in January of each year.  Likewise, reporting quarters end on the Sunday closest
to the calendar end of April, July and October.  Each reporting quarter contains 13 weeks of operations.

Liquidity and Capital Resources - April 29, 2001 Compared to January 28, 2001

At April 29, 2001 our operating cash balance of $375,142 was approximately 46% less than the cash balance of $691,693 at January 28, 2001.

During the three months ended April 29, 2001, merchandise inventories increased $164,222, or approximately 11%, representing a build-up of inventories for the spring and summer shopping seasons.

Prepaid expenses and other current assets, which generally includes prepaid operating expenses and accounts receivable, increased by approximately $18,400.  Included in prepaid expenses and other
current assets is a retainer paid to Infusion Capital Partners, LLC associated with an Investment Banking, Merger and Acquisition Agreement.  The Agreement provides for Infusion to act as our non-exclusive financial advisor with respect to assisting the
Company in securing a merger or acquisition transaction.  The total retainer of $78,000 was paid in cash of $25,000, and a warrant to purchase 75,000 shares of the Company's common stock at an exercise price of $1.00 per share.  The warrant is exercisable
for two years and has a value of $53,000.  The Agreement terminates on December 31, 2001 and may be extended by mutual consent.

Also included in prepaid expenses and other current assets is approximately $5,900 representing the remaining imputed value of a warrant to purchase 25,000 shares of common stock at $.875 per share
associated with a two year extension of a Management Services Agreement.  The agreement provides for certain consulting services including arrangement of possible debt and equity financing, as well as strategic, operational and investment banking advice.
On November 1, 1999 the Management Services Agreement was extended an additional two years through December 2002.  These costs are being amortized as professional services over the life of the extended agreement.

As a result of the foregoing, current assets decreased by $133,941 from $2,393,445 at January 28, 2001 to $2,259,504 at April 29, 2001.

For the three months ended April 29, 2001, accounts payable and accrued expenses increased $84,198, or approximately 5%, and is attributed primarily to the related increase in merchandise
inventory.  Accounts payable and accrued expenses primarily include amounts payable to merchandise vendors and other suppliers of products and services used in the ordinary course of business.

Notes payable decreased by approximately $29,800.  This decrease is the result of regularly scheduled payments made of $38,583.  In March 2001, a short-term note in the amount of $8,735 was issued
to finance a portion of our commercial liability insurance package.  The note bears interest at 10%, requires monthly principal and interest payments of $1,290, and matures on August 15, 2001.

Included in notes payable is a bank note with a principal balance of $292,516 at April 29, 2001.  The note requires monthly principal and interest payments of $8,000.  The note bears interest at
the Bank's prime lending rate plus 3%, and matures on December 5, 2001 at which time all unpaid principal and interest are due.

Also included in notes payable is approximately $14,400 representing the balance of a note payable to a contractor relating to the construction of a store in Palisades Center in West Nyack, New
York in 1998.  This store was closed in January 2000 due to poor performance.  This note requires monthly installments of $1,873 including principal and interest at 10% and matures on December 1, 2001.

As a result of the foregoing, current liabilities increased approximately $54,400 from $1,905,034 at January 28, 2001, to $1,959,429 at April 29, 2001.  Working capital decreased $188,336 from
$488,411 at January 28,
2001 to $300,075 at April 29, 2001.

During the three months ended April 29, 2001 we invested approximately $7,000 in property and equipment, which generally represents minor repairs and improvements at our store in Tempe, Arizona.
This compares with approximately $17,400 invested during the comparable period ended April 30, 2000, which also included minor repairs and improvements, as well as $5,000 invested in the development and design of our store at the Aladdin Hotel and Casino
in Las Vegas, Nevada, which was opened in August 2000.

Based on the foregoing, property and equipment, net of accumulated depreciation, decreased $117,696, from $1,938,515 at January 28, 2001, to $1,820,819 at April 29, 2001.

In October 1996, we developed and launched our first e-commerce website "impostors.com" which provided our initial Internet presence.  While the website had the capability to generate sales of our
product, we realized only modest revenue generated directly from the website. In July 1999, we started the process of developing a new e-commerce platform "premierjewelry.com" from which we showcase existing and new product concepts. The new site was
launched on May 30, 2000.  At April 29, 2001, we had a net investment $98,816 (net of accumulated amortization of $42,900) in thepremierjewelry.comwebsite. The investment is being amortized over three years.

Our trademark assets, representing the goodwill of the Impostors trademark and other intellectual property, was acquired as part of the acquisition of Impostors in 1994.  This asset is being
amortized over a 10-year period, and had an amortized book value of $35,134 at April 29, 2001.

Other non-current assets primarily include security deposits made to landlords and utility service providers.  The balance of $68,032 at April 29, 2001 is unchanged from the January 28, 2001 balance
 .

Deferred rent decreased $13,729 from $233,619 at January 28, 2001, to $219,890 at April 29, 2001, resulting from the recognition of rental expense on a straight line basis on leases that contain
predetermined fixed escalations of the minimum rents during the initial term of the lease.

As discussed above, a warrant for the purchase of 75,000 shares of common stock at an exercise price of $1.00 per share was issued as a retainer to Infusion Capital Partners, LLC, associated with
an Investment Banking, Merger and Acquisition Agreement.  The value of the warrant was $53,000 as determined by the Black-Scholes pricing model using a two year term, a volatility index of 145%, and a risk free interest rate of 4.41%.

Also in March 2001, a director and an officer each received 5,000 shares of the Company's common stock as additional compensation for services.  The total value of the shares issued was $10,000.

As a result of the foregoing, common stock increased $20, from $3,041 (1,520,574 shares outstanding) at January 28, 2001, to $3,061 (1,530,574 shares outstanding at April 29, 2001).  Additional
paid in capital increased $62,980 from $7,134,971 at January 28, 2001 to $7,197,951 at April 29, 2001.

As a result of the net loss for the three months ended April 29, 2001 of $370,103, the accumulated deficit increased from $4,727,923 at January 28, 2001 to $5,098,026 at April 29, 2001.
Considering the net loss and the equity transactions as discussed above, total stockholders' equity decreased $307,103 from $2,410,089 at January 28, 2001 to $2,102,986 at April 29, 2001.

Net cash used by operating activities was $279,721 for the three months ended April 29, 2001, compared with $56,421 for the three months ended April 30, 2000.  The change of approximately $223,000
primarily represents the cash effect of the increase in the net loss for the three months and the increases in merchandise inventories and accounts payable and accrued liabilities as discussed above.

Net cash used by investing activities was $7,027 for the three months ended April 29, 2001 compared with $26,975 for the three months ended April 30, 2000.  The change of approximately $20,000 is
attributable to our investments in the new store at the Aladdin Hotel and Casino in Las Vegas, Nevada, and our website during the three months ended April 30, 2000, as discussed above.

Net cash used by financing activities for the three months ended April 29, 2001 was $29,803, and represents the issuance of a note payable to finance a portion of our commercial liability
insurance package, and regularly scheduled payments on other notes payable.  This compares to net cash used by financing activities of $25,921 for the three months ended April 30, 2000, which generally represented regularly scheduled payments on notes
payable.

Also, during the quarter ended April 30, 2000, we received approximately $715,000 from exercises of various options and warrants.  As part of the Agreement and Plan of Merger with AmazeScape.com,
these funds were held in an escrow account until the termination of the proposed merger in October 2000.  Up to the time of the termination of the proposed merger, these funds were classified as restricted cash.

The foregoing resulted in a decrease of $316,551 in our operating cash position from $691,693 at January 28, 2001 to $375,142 at April 29, 2001.  This compares with a decrease in cash of $108,687
from $357,653 at January 30, 2000, to $248,966 at April 30, 2000.

As of the date of this report, no additional leases to open retail locations have been executed.  However, possible new locations are evaluated on an ongoing basis. Depending on location and size,
the opening of a new retail location represents an aggregate capital requirement of approximately $75,000-$200,000, including the lease build-outs, fixtures, equipment and inventory.  Additional sources of capital are currently being evaluated to meet
plans for future capital investment and working capital needs.  However, there can be no assurance that such financing will be secured.

Results of Operations - Three Months Ended April 29, 2001 Compared to Three Months Ended April 30, 2000

Set forth below is selected summary financial data derived from the financial statements and financial
records:

|                                        | Three Months EndedApril 29, 2001 | Three Months EndedApril 30, 2000
|--------------------------------------- | -------------------------------- | --------------------------------
|Statements of Operations Data:          |                                  |                                 
|Total Revenues                          | $     2,421,803                  | $     2,647,577                 
|Operating loss                          | (368,324)                        | (294,389)                       
|Net loss                                | (370,103)                        | (296,915)                       
|Net loss per common share               | (.24)                            | (.21)                           
|Weighted average shares outstanding     | 1,526,508                        | 1,389,632                       
|Statistical Data:                       |                                  |                                 
|Store revenues                          | $     2,415,366                  | $    2,645,000                  
|Store gross margin                      | 1,674,735                        | 1,831,944                       
|Store operating expenses                | 1,651,927                        | 1,716,014                       
|Store operating profit                  | 22,808                           | 115,930                         
|Corporate overhead operating expenses   | 378,143                          | 409,054                         
|Gross margin percentage                 | 69.2%                            | 69.2%                           
|Comparable same store sales (30 stores) | 2,284,177                        | 2,463,148                       
|Comparable same store sales growth      | -7.3%                            | 2.5%                            

Total revenues for the three months ended April 29, 2001 were $2,421,803 as compared to $2,647,577 for the comparable period ended April 30, 2000, a decrease of $225,744, or 8.5%.  Comparable same store sales
were $2,284,177 for the three months ended April 29, 2001 as compared to $2,463,148 for the comparable period ended April 30, 2000, a decrease of approximately $179,000, or 7.3%.  Of the comparable same store sales decrease, approximately $117,000 is
attributed to two stores located in the predominantly tourist areas of San Francisco, California, and Las Vegas, Nevada.  Non-same store sales of approximately $131,200 and $181,900 for the three months ended April 29, 2001, and April 30, 2000,
respectively, are attributed to our new store at the Aladdin Hotel and Casino in Las Vegas Nevada, and three stores closed during the year ended January 28, 2001:

Aladdin Hotel and Casino, Las Vegas, NV - opened August 17, 2000;           Tyson's Corner, McLean, VA - closed June 27, 2000 upon expiration of lease;           Main Place, Santa Ana, CA - closed September 19, 2000 upon expiration of lease; and,           Tucson Mall, Tucson, AZ - closed January 28, 2001 due to sale of our lease.

Also included in total revenues are approximately $6,400 and $2,600 for the quarters ended April 29, 2001 and April 30, 2000, respectively. These revenues generally represent sales generated from
our website.

For the three months ended April 29, 2001, cost of goods sold was $745,655 and the gross margin was $1,676,138, or 69.2%.  For the three months ended April 30, 2000, cost of goods sold was $816,670
and the gross margin was $1,830,907, or 69.2%.  Also included in cost of goods sold are freight charges incurred in the acquisition of our merchandise from vendors.  Total freight charges included in cost of goods sold was $20,467, or .85% of total
revenue for the quarter ended April 29, 2001.  This compares with freight charges of $26,388, or 1.0% of total revenue for the quarter ended April 30, 2000.

Total operating expenses were $2,044,462 for the quarter ended April 29, 2001, compared to $2,125,296 for the quarter ended April 30, 2000, or 84.4% and 80.3% of revenues, respectively.  The
majority of these expenses were comprised of store and corporate office personnel expenses, which amounted to $867,438, or 35.8% of revenues, and $934,439, or 35.3% of revenues for the quarters ended April 29, 2001, and April 30, 2000, respectively, a
decrease of approximately $67,000.  This decrease is attributed primarily to operating two fewer stores during the quarter ended April 29, 2001, than during the comparable quarter ended April 30, 2000.  Total personnel costs for our corporate personnel
were approximately $234,000 and $220,000 for the quarters ended April 29, 2001, and April 30, 2000, respectively.  The increase of $14,000 is primarily attributed to common stock valued at $10,000 that was issued to a director and an officer in March
2001, as additional compensation for services.

Occupancy costs of $695,182, and $682,807, are included in total operating expenses for the three months ended April 29, 2001 and April 30, 2000, respectively.  The increase of approximately
$12,000 reflects rent expenses for our new store at the Aladdin Hotel and Casino, as well as scheduled incremental minimum rent increases for several of our store locations since the quarter ended April 30, 2000.

Other selling, general and administrative expenses of $342,318 and $394,171 are included in total operating expenses for the quarters ended April 29, 2001 and April 30, 2000, respectively,
representing a decrease of approximately $52,000.  Following is a comparative summary of costs included in other selling, general and administrative expenses, and their relationship to total revenues for the periods:

|                                    | Three Months EndedApril 29, 2001 | Three Months EndedApril 30, 2000
|----------------------------------- | -------------------------------- | --------------------------------
|                                   
|Advertising and promotion           | $  42,449                        | 1.8%                            
|Banking fees                        | 52,625                           | 2.2%                            
|Merchandise distribution            | 20,314                           | 0.8%                            
|Repairs and rentals                 | 14,298                           | 0.6%                            
|Property insurance, fees, and taxes | 31,175                           | 1.3%                            
|Professional and service fees       | 35,384                           | 1.5%                            
|Supplies and product packaging      | 53,968                           | 2.2%                            
|Telephone and utilities             | 47,539                           | 2.0%                            
|Travel                              | 27,672                           | 1.1%                            
|Other                               | 16,894                           | 0.7%                            
|                                    | $  342,318                       | 14.1%                           

Included in total operating expenses are corporate overhead expenses of $378,143, or 15.6% of total revenues, for the three months ended April 29, 2001, as compared to $409,054, or 15.5% of total revenues, for
the three months ended April 30, 2000, representing a decrease of approximately $30,900 for the comparable period.  It is expected that corporate overhead will decrease as a percentage of sales as new retail stores and additional distribution is added.
Efforts to continue to improve and utilize technological resources and control administrative costs are ongoing.

Also included in total operating expenses are depreciation and amortization expenses that were $139,524 and $113,879 for the quarters ended April 29, 2001 and April 30, 2000, respectively.  Included in depreciation and amortization for the
quarter ended April 29, 2001 is $11,700 of amortization of our website investment.  Total depreciation expense relating to our property and equipment was $124,724 and $110,779 for the quarters ended April 29, 2001, and April 30, 2000, respectively, an
increase of approximately $14,000 and is primarily attributed to our new store at the Aladdin Hotel and Casino in Las Vegas, as well as our store at Harbor Place in Baltimore, Maryland which was remodeled in 2000.

As a result of the foregoing, the loss from operations for the quarter ended April 29, 2001 was $368,324, as compared with a loss from operations for the quarter ended April 30, 2000 of $294,389, an increase of $73,935.

Interest expense was $9,633 and $11,905 for the quarters ended April 29, 2001, and April 30, 2000, respectively, and is comprised primarily of interest charged on the Bank Note as discussed above.  Interest income was $5,564 and $4,379 for
the quarters ended April 29, 2001, and April 30, 2000, respectively, and results from the daily investing of available cash balances.

Other income was $2,290 and $5,000 for the quarters ended April 29, 2001, and April 30, 2000, respectively, and consists almost entirely of license fees associated with extension agreements that will allow certain former franchisees to use
the Impostors trademark. The license agreements have a one-year term expiring in January 2001, and are renewable at our option.

Based on the foregoing, the net loss for the three months ended April 29, 2001 was $370,103, which translates to a net loss per share of $(0.24) based on 1,526,508 weighted average shares outstanding.  This compares with a net loss for the
three months ended April 30, 2000 of $296,915, or $(0.21) per share, based on 1,389,632 weighted average shares outstanding as of that date.

PART II.  OTHER INFORMATION

Item 1.      Legal Proceedings

From time to time we are involved in commercial disputes in the ordinary course of business with vendors, landlords and other parties, which on occasion become the subject matter of litigation. At the present time, except as set forth below,
we are not a party to any legal proceedings outside of the ordinary course of business or which would have a material adverse impact upon our operations or properties.

Item 2.      Changes in Securities

None

Item 3.      Default Upon Senior Securities

None

Item 4.      Submission of Matters to a Vote of Security Holders

No matters were submitted to a vote of security holders during the quarter ended April 29, 2001.

Item 5.      Other Information

None

Item 6.      Exhibits and Reports on Form 8-K

Exhibits:

None.

Reports on Form 8-K:

None

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

|      |           | PREMIER CONCEPTS, INC.                                                          
|----- | --------- | --------------------------------------------------------------------------------
|Date: | 6/13/2001 | By:/s/ Sissel Eckenhausen    
Sissel Eckenhausen, President                     
|      | 6/13/2001 | By:/s/ Todd HussTodd Huss, Chief Financial Advisor,
Principal Accounting Officer