---

 

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): April 7, 2005

 

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)

 

---

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

---

---

ITEM 7.01 - Regulation FD Disclosure

 

Casual Male Retail Group, Inc. (the “Company”) is scheduled to present at the Sidoti & Company, LLC, Ninth Annual New York Emerging Growth Institutional Investor Forum on April 7, 2005. A copy of the slides to be presented are attached to this report as Exhibit 99.1, which slide presentation is incorporated by reference herein.

 

The slide presentation contained in the exhibit includes statements intended as “forward-looking statements,” which are subject to the cautionary statement about forward-looking statements set forth in the exhibit. The slide presentation is being furnished, not filed, pursuant to Regulation FD. Accordingly, the slide presentation will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the slide presentation is not intended to, and does not, constitute a determination or admission by the Company that the information in the slide presentation is material or complete, or that investors should consider this information before making an investment decision with respect to the Company.

 

ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS

 

(c) Exhibits

 

Exhibit No.		Description
99.1		Presentation dated April 4, 2005

 

Page 2

---

 

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.

 

 

Date: April 7, 2005

 

Page 3

EXHIBIT 99.1

 

 

4/04/05

---

 

The CMRG Story

Undisputed leader within a $6 billion men’s specialty big & tall apparel arena

Dominant player within specialty big & tall space with 65% market share

Increased opportunity to consolidate a fragmented market by focused merchandising initiatives and advanced marketing techniques

Focused growth & profitability for Casual Male Big & tall and Rochester Big & Tall Businesses.

---

 

Business Overview

Casual Male Big & Tall and Rochester Clothing are the nation’s largest specialty retailers of big & tall clothing with 522 stores in 44 states and UK

A highly fragmented marketplace combined with rapidly growing big & tall population creates opportunity for store growth to 600-700 stores

CT-11

DE-3

RI-1

MA-13

MD-13

NH-2

NJ-20

VT-1

Rochester

1 London, United Kingdom

---

 

Comp Store Trend

10.0%

8.0%

6.0%

4.0%

2.0%

0.0%

-2.0%

-4.0%

-6.0%

-5.0%

-1.0%

-5.0%

-2.3%

-1.1%

2.4%

9.2%

4.8%

1.6%

2.0%

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

2002 2003 2004

---

 

Traffic Counts

2.0%

0.0%

-2.0%

-4.0%

-6.0%

-8.0%

-6.5%

-5.0%

-5.0%

-4.0%

1.0%

Q1 Q2 Q3 Q4 Q1

2004 2005

---

 

Internet Sales by Month

$1,800,000

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0

2002 2003 2004

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

---

 

Multi-Channel

Store

100% 80% 60% 40% 20% 0%

2.9%

7.4% online catalog

Catalog

100% 80% 60% 40% 20% 0%

46.6%

18.6% store online

Online

100% 80% 60% 40% 20% 0% store catalog

51.1%

32.1%

---

 

Email File Growth Rate Comparison 2003-2005

1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 -

2005 2004 2003

Feb

March

April

May

June

July

Aug

Sept

Oct

Nov

Dec

Jan

Feb Jan % Change

2005 993,850 1,451,276 +46%

2004 686,100 910,637 +33%

2003 342,619 686,781 +100%

---

 

Store Catalog Sales

$10,000,000

$8,000,000

$6,000,000

$4,000,000

$2,000,000

$-$7,053,300

$7,283,100

$7,968,900

$8,814,100

FYE02 FYE03 FYE04 FYE05

---

 

Customer Sales by Channel

Retail Only $155.46

Catalog Only $190.61

E-commerce Only $161.74

Retail & Catalog $429.60

Retail & E-commerce $450.19

Catalog & E-commerce $443.78

Retail & Catalog & E-commerce $706.62

---

 

---

 

Recent Catalog Performance

Demand$ through Catalog Channel $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0

+70% over Plan, +12% over LY

+27% over Plan, +24% over LY

+49% over Plan, +54% over LY

+31% over Plan, +14% over LY

Forecast Plan LY

CM PreSpring Drop 3

CM Spring Drop 1 (excl retail catalogs)

PREMIER Spring Drop 1

CM Spring Drop 2

---

 

---

 

Rochester Big & Tall Transaction

21 U.S. stores; 1 in London

Total revenue $65.0M

Average sales per store $2.3M vs CM $650,000

Average retail price per item $100 vs CM $30

Average transaction $400 vs CM $75

Average store sq. footage 7,500sq. ft. vs CM 3,500 sq. ft

Audited EBIDTA of $3.3M

---

 

Benefits to CMRG

Combined entities give CMRG 65% market share of specialty retail sector

Not a turn around – accretive to earnings in year one

Synergies will increase gross margin, reduce overhead costs (warehouse, administration, insurance, etc.)

Comparable multi-channel opportunities to Casual Male

Internet/catalog over 20% of sales in less than 3 years

Store growth opportunities

Underserved markets

Growth of 5 – 7 stores/yr

International opportunities

---

 

Balance Sheet Refinancing

Post- RBT Acquisition and Levi’s and Ecko Sales 3rd Qtr, 2004

Post- RBT Acquisition and Levi Sale

3rd Quarter, 2004 Year-end 2004

Average Debt Annualized Average Average Debt Annualized Average

Balance Interest Rate Balance Interest Rate

5% due 2007 $7.60 $0.38 5.0% $7.60 $0.38 5.0%

9% Mortgage Note $ 10.10 $ 0.91 9.0% $ 10.10 $ 0.91 9.0%

Credit Facility $ 35.80 $ 1.58 4.4% $ 20.00 $ 0.88 4.4%

Term Loan $ - $ - $ 7.50 $ 0.56 7.5%

New Sr. Sub. Convert. $ 100.00 $ 5.00 5.0% $ 100.00 $ 5.00 5.0%

$ 153.50 $ 7.86 5.1% $ 145.20 $ 7.73 5.3%

---

 

Forward - Looking Statement

Any remarks that we make today about future expectations, plans and prospects for Casual Male Retail Group, Inc. which are not historical facts, are forward-looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause the Company’s actual results to differ from those contained in the forward-looking statements, please read the section entitled “Forward-Looking Statements” in the Company’s most recent Form 10-K and Form 10-Q and the Form 8-K filed on April 14, 2004 with the Securities and Exchange Commission.

---

 

Casual Male Retail Group 555 Turnpike Street Canton, MA 02021 (781) 828-9300 x 2004 clinsky@cmal.com