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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) August 25, 1994
BROWN GROUP, INC.
(Exact name of registrant as specified in its charter)
New York
(State or other jurisdiction of incorporation or organization)
1-2191 43-0197190
(Commission File Number) (IRS Employer Identification Number)
8300 Maryland Avenue
St. Louis, Missouri 63105
(Address of principal executive offices) (Zip Code)
(314) 854-4000
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year,
if changed since last report)
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Item 5. Other Events
On August 25, 1994, Brown Group, Inc. announced an
agreement to sell the net assets of its Cloth World
chain of fabric stores to Fabri-Centers of America,
Inc. for $62 million in cash, subject to final
balance sheet adjustments. The Company does not
anticipate any significant gain or loss from the
sale. Cloth World operates 343 stores selling
fabrics and sewing accessories. It was acquired by
Brown Group in 1970 when it had 14 stores. The
transaction is expected to be completed in early
October.
Cloth World had sales of $224.1 million in fiscal
1993 and $103.5 million in the first six months of
fiscal 1994. Cloth World had operating profit of
$3.9 million in fiscal 1993 and $1.1 million in the
first six months of fiscal 1994.
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.
BROWN GROUP, INC.
(Registrant)
By /s/ H. E. Rich
Executive Vice President and
Chief Financial Officer
Date: September 1, 1994
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