<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
/X/ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For the quarterly period ended January 31, 1995
--------------------------
OR
/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
--------------------- ----------------------
Commission File Number: 04954
------------------------------
APPAREL AMERICA, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 13-2648900
- ------------------------------- ------------------------------------
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
1175 State Street
New Haven, Connecticut 06511
- ---------------------------------------- -----------------------------
(Address of principal executive offices) (Zip Code)
(203) 777-5531
- --------------------------------------------------------------------------------
Registrant's telephone number, including area code
Not Applicable
- --------------------------------------------------------------------------------
Former name, former address and former fiscal year,
if changed since last report.
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter periods that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
------ ------
Indicate by check mark whether the Registrant has filed all documents and
reports required to be filed by Section 12, 13, or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court. Yes X No
------ ------
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practical date.
Common Stock, $.05 par value -- 7,389,553 shares as of March 13, 1995.
<PAGE>
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.
Apparel America, Inc.
--------------------------------------
Registrant
Date March 16, 1995 /s/ Frederick M. D'Amato
-------------------- --------------------------------------
Frederick M. D'Amato, Vice President -
Finance, both on behalf of the
Registrant and as its Principal
Financial Officer
16
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED BALANCE SHEET AS OF JANUARY 31, 1995 AND THE CONDENSED STATEMENT OF
INCOME FOR THE SIX MONTHS ENDED JANUARY 31, 1995 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-START> AUG-01-1994
<PERIOD-END> JAN-31-1995
<CASH> 80
<SECURITIES> 0
<RECEIVABLES> 63
<ALLOWANCES> 161
<INVENTORY> 11,671
<CURRENT-ASSETS> 12,281
<PP&E> 6,432
<DEPRECIATION> 4,922
<TOTAL-ASSETS> 18,527
<CURRENT-LIABILITIES> 8,657
<BONDS> 11,735
<COMMON> 371
5,693
40,484
<OTHER-SE> (48,413)
<TOTAL-LIABILITY-AND-EQUITY> 18,527
<SALES> 13,071
<TOTAL-REVENUES> 13,071
<CGS> 8,435
<TOTAL-COSTS> 8,435
<OTHER-EXPENSES> 3,947
<LOSS-PROVISION> 38
<INTEREST-EXPENSE> 272
<INCOME-PRETAX> 379
<INCOME-TAX> 10
<INCOME-CONTINUING> 369
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 369
<EPS-PRIMARY> 0.00
<EPS-DILUTED> 0.00
</TABLE>
