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UNITED STATES
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 (Date of earliest event reported): November 6, 2003
0-15898
(Commission File Number)
______________________________
CASUAL MALE RETAIL GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware 04-2623104
(State of Incorporation) (IRS Employer
Identification Number)
555 Turnpike Street, Canton, Massachusetts 02021
(Address of registrant's principal executive office)
(781) 828-9300
(Registrant's telephone number)
______________________________
ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
Exhibit No. Description
99.1 Press Release announcing Casual Male Retail Group,
Inc.'s Third Quarter Fiscal 2004 Sales.
ITEM 12. Results of Operations and Financial Condition.
On November 6, 2003, Casual Male Retail Group, Inc. (the "Company") issued
a press release announcing sales results for the third quarter of the
Company's fiscal 2004. In addition, the Company announced its earnings
expectations for its third quarter fiscal 2004 results which will be
announced on November 20, 2003.
A copy of the press release is attached hereto as Exhibit 99.1 and is
incorporated by reference herein.
The Company's press release, in addition to containing results that are
determined in accordance with accounting principles generally accepted in the
United States of America, also contains pro forma financial information, as
if the Company operated its Casual Male business for the nine months ended
November 1, 2002. On May 14, 2002, during the second quarter of the
prior fiscal year, the Company completed the acquisition of substantially all
of the assets of Casual Male Corp. and certain of its subsidiaries for a
purchase price of approximately $170 million, plus the assumption of certain
operating liabilities. In view of the significance of the Casual Male
acquisition to the growth and future identity of the Company, pro forma
financial information for the Casual Male business is included in the
Company's press release.
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, thereunto duly authorized.
CASUAL MALE RETAIL GROUP, INC.
By: /s/ Dennis R. Hernreich
---------------------------
Name: Dennis R. Hernreich
Title: Executive Vice President
and Chief Financial Officer
Date: November 8, 2003
For Information, Contact:
David A. Levin Dennis R. Hernreich
President and Chief Executive Officer Executive Vice President, COO/CFO
Casual Male Retail Group, Inc. Casual Male Retail Group, Inc.
(781) 828-9300 (781) 828-9300
Jeff Unger
Vice President of Investor Relations
Casual Male Retail Group, Inc.
(561) 514-0115
CASUAL MALE RETAIL GROUP, INC. ANNOUNCES
THIRD QUARTER FISCAL 2004 SALES
-- Casual Male comp sales -1.1% for 3rd Quarter of FY 2004 --
CANTON, MA (November 6, 2003) -- Casual Male Retail Group, Inc. (NASDAQ/NMS:
"CMRG"), retail brand operator of Casual Male Big & Tall, the exclusive
retailer of the George Foreman Signature Collection and Comfort Zone,
operator of Levi's(r)/Dockers(r) Outlet by Designs, and Ecko Unltd.(r) outlet
stores, today announced its sales results for the third quarter and nine
months ended November 1, 2003.
The Company's total sales for the third quarter of fiscal 2004 were $114.1
million compared to $125.2 million for the corresponding period of the prior
year. For the nine months ended November 1, 2003, total sales were $326.7
million as compared to $276.8 million for the corresponding nine months of
the prior year. These results include the sales of the Company's Casual
Male acquisition on May 14, 2002.
For the third quarter of fiscal 2004, the Company's Casual Male Big & Tall
business had sales of $73.1 million as compared to $74.7 million for the
corresponding period of the prior year. For the nine months ended
November 1,2003, the Casual Male Big & Tall business had sales of
$224.9 million as compared to pro forma sales of $231.7 million for the
corresponding nine months of the prior year, assuming that the Casual Male
acquisition had occurred on February 1, 2002. Comparable store sales for
the Casual Male Big & Tall business, which includes sales from Casual
Male's continuing e-commerce and catalog multi-channel sources, decreased
1.1% for the third quarter of fiscal 2004 and decreased 2.8% for the nine
months ended November 1, 2003.
Total sales for the Company's other branded apparel businesses, which
consists of its Levi's(r)/Dockers(r) outlet stores and Ecko Unltd.(r) outlet
stores, were $41.0 million for the third quarter of fiscal 2004 as compared
to $50.5 million for the corresponding period of the prior year. For the
nine months ended November 1, 2003, total sales of the other branded apparel
businesses were $101.9 million as compared to $129.2 million for the
corresponding period of the prior year. The number of Levi's(r)/Dockers(r)
stores open at the end of the third quarter were 80, compared to 100 at the
end of the prior year's third quarter. As previously announced, the Company
is in the process of closing 22 Levi's(r)/Dockers(r) outlet stores by the end of
fiscal 2004, with the intention of eventually exiting its Levi's(r)/Dockers(r)
business completely.
The Company expects to report earnings for the third quarter, adjusted for
normalized tax provisions, of between $(0.03)- $(0.01) per diluted share, as
compared to $(0.01) per diluted share for the same period last year. CMRG
will conduct a conference call to discuss its third quarter earnings results
on Thursday, November 20, 2003 at 11:00 a.m. Eastern Time at
www.casualmale.com/investor. The call will be archived online within one hour
after its completion. Participating in the call will be Seymour Holtzman,
Chairman; David Levin, President and Chief Executive Officer and
Dennis Hernreich, Executive Vice President, Chief Operating Officer and
Chief Financial Officer.
CMRG, the largest retailer of big and tall men's apparel, operates 480
Casual Male Big & Tall stores, Casual Male e-commerce site, Casual Male
catalog business, 58 Levi's(r)/ Dockers(r) Outlet by Designs and 21 EcKo
Unltd.(r) outlet stores located throughout the United States and Puerto
Rico. The Company is headquartered in Canton, Massachusetts and its
common stock is listed on the Nasdaq National Market under the
symbol "CMRG".
The discussion of forward-looking information requires management of the
Company to make certain estimates and assumptions regarding the Company's
strategic direction and the effect of such plans on the Company's financial
results. The Company's actual results and the implementation of its plans
and operations may differ materially from forward-looking statements made by
the Company. The Company encourages readers of forward-looking information
concerning the Company to refer to its prior filings with the Securities and
Exchange Commission that set forth certain risks and uncertainties that may
have an impact on future results and direction of the Company. The Company
does not report on its progress during a quarter until after the quarter has
been completed and its results have been appropriately disclosed.
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