<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM WILSONS THE
LEATHER EXPERTS INC. AND SUBSIDIARIES AS OF AUGUST 2, 1997 AND FOR THE QUARTER
AND SIX MONTH PERIOD ENDED AUGUST 2, 1997
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   6-MOS
<FISCAL-YEAR-END>                          JAN-31-1998             JAN-31-1998
<PERIOD-START>                             MAY-04-1997             FEB-02-1997
<PERIOD-END>                               AUG-02-1997             AUG-02-1997
<CASH>                                          24,091                  24,091
<SECURITIES>                                         0                       0
<RECEIVABLES>                                   12,334                  12,334
<ALLOWANCES>                                     4,843                   4,843
<INVENTORY>                                     87,177                  87,177
<CURRENT-ASSETS>                               119,578                 119,578
<PP&E>                                          20,622                  20,622
<DEPRECIATION>                                   1,911                   1,911
<TOTAL-ASSETS>                                 140,041                 140,041
<CURRENT-LIABILITIES>                           43,281                  43,281
<BONDS>                                         61,311                  61,311
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                            95                      95
<OTHER-SE>                                      33,358                  33,358
<TOTAL-LIABILITY-AND-EQUITY>                   140,041                 140,041
<SALES>                                         36,471                  93,422
<TOTAL-REVENUES>                                36,471                  93,422
<CGS>                                           36,957                  84,222
<TOTAL-COSTS>                                   54,250                 120,713
<OTHER-EXPENSES>                                   955                   1,842
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                               1,248                   1,919
<INCOME-PRETAX>                               (19,982)                (31,052)
<INCOME-TAX>                                   (7,401)                (11,208)
<INCOME-CONTINUING>                           (12,581)                (19,844)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                      0                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                  (12,581)                (19,844)
<EPS-PRIMARY>                                   (1.41)                  (2.39)
<EPS-DILUTED>                                   (1.41)                  (2.39)
        

</TABLE>