SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report:
December 22, 1999
DESIGNS, INC.
(Exact Name of registrant as specified in its charter)
Delaware 0-15898 04-2623104
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
66 B Street, Needham, Massachusetts 02494
(Address of principal executive offices) (Zip Code)
(781) 444-7222
(Registrant's telephone number, including area code)
Item 4. Changes in Registrant's Certifying Accountant
On December 21, 1999 Designs, Inc. (the "Company") dismissed its
principal independent accountants Arthur Andersen LLP ("Arthur Andersen"). On
December 21, 1999, the Company engaged Deloitte & Touche LLP as its new
principal independent accountants. The Company's Board of Directors and its
Audit Committee unanimously approved the change of principal independent
accountants.
On June 26, 1998 the Company filed with the Commission a Current Report
on Form 8-K reporting that the Company had dismissed Coopers & Lybrand L.L.P as
its principal independent accountants and had retained Arthur Andersen as its
principal independent accountants.
Since Arthur Andersen was retained on June 26, 1998 and thereafter
through December 21, 1999 there were no disagreements between the Company and
Arthur Andersen on matters of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure which, if not resolved to
the satisfaction of Arthur Andersen, would have caused Arthur Andersen to make
reference to the subject matter thereof in its reports. Since Arthur Andersen
was retained on June 26, 1998 and thereafter through December 21, 1999 there was
no occurrence of the kinds of events described in Item 304(a)(1)(v) of
Regulation S-K promulgated by the Commission. In addition, none of the reports
issued by Arthur Andersen concerning the Company's financial statements since it
was retained on June 26, 1998 and thereafter through December 21, 1999 contain
any adverse opinion or disclaimer of opinion. Such reports were not qualified or
modified as to uncertainty, audit scope, or accounting principles.
Item 7. Financial Statements, ProForma Financial Information and Exhibits
Exhibit 16.1 Letter from Arthur Andersen LLP, dated December 22,
1999, regarding its concurrence with the Company's
disclosure in this Report.
SIGNATURES
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.
DESIGNS, INC.
Date: December 22, 1999 By: /s/ John J. Schultz
---------------------------------
John J. Schultz
Its: President and
Chief Executive Officer
ARTHUR
ANDERSEN
December 22, 1999 ______________________
Arthur Andersen LLP
______________________
Office of the Chief Accountant 225 Franklin Street
Securities and Exchange Commission Boston, MA 02110-2812
450 Fifth Street, NW 617 330 4000
Washington, DC 20549
Dear Sir/Madam:
We have read the third paragraph of Item 4 included in the Form 8-K dated
December 22, 1999 of Designs, Inc. to be filed with the Securities and Exchange
Commission and are in agreement with the statements contained therein.
Very truly yours,
/s/ Arthur Andersen LLP
Arthur Andersen LLP
Copy to
Kenneth R. Rogers, Jr., Senior Vice President, Designs, Inc.