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 30, 1998
S & K FAMOUS BRANDS, INC.
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(Exact name of registrant as specified in its charter)
Virginia 0-11682 54-0845694
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification No.)
11100 West Broad Street, P. O. Box 31800, Richmond, Virginia 23294-1800
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(Address of principal executive offices)
Registrant's telephone number, including area code: (804) 346-2500
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Not Applicable
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Former name, former address and former fiscal year,
if changed since last report.
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ITEM 5. OTHER EVENTS
On November 30, 1998, S&K Famous Brands, Inc. (the "Company") announced
that the Board of Directors of the Company had authorized the repurchase of up
to $2.5 million of the Company's common stock in the open market or in privately
negotiated transactions. A copy of the press release announcing this stock
repurchase authorization is filed as an exhibit to this Report on Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(C) Exhibits.
99.1 Press release of S&K Famous Brands, Inc., dated November 30, 1998
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.
S & K FAMOUS BRANDS, INC.
(Registrant)
Date: December 1, 1998 /s/ Robert E. Knowles
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Robert E. Knowles
Executive Vice President,
Chief Financial Officer,
Secretary and Treasurer
(Principal Financial Officer)
Date: December 1, 1998 /s/ Janet L. Jorgensen
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Janet L. Jorgensen
Vice President and Controller
(Principal Accounting Officer)
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INDEX TO EXHIBITS
99.1 Press release of S&K Famous Brands, Inc., dated November 30, 1998
Exhibit 99.1
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N E W S R E L E A S E
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AMERICA'S SUIT STORE
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NASDAQ Trading Symbol: SKFB Company Contact: Investor Contacts: Lynn Morgen and Carolyn
P. O. Box 31800 Robert E. Knowles Capaccio
Richmond, VA 23294-1800 Chief Financial Media Contacts: Terry Rooney and Jeff Siegel
Officer MORGEN-WALKE ASSOCIATES (212) 850-5600
(804) 346-2500
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FOR IMMEDIATE RELEASE
S & K FAMOUS BRANDS ANNOUNCES
STOCK REPURCHASE PROGRAM OF UP TO $2.5 MILLION
Richmond, VA, November 30, 1998 -- S&K Famous Brands, Inc. (NASDAQ:SKFB), today
announced that its Board of Directors has approved a discretionary program to
repurchase up to $2.5 million worth of shares of the Company's outstanding
common stock. Subject to price and market conditions, these purchases will be
made from time to time in open market or in privately negotiated transactions
using the Company's available cash balances.
Stuart C. Siegel, Chairman and Chief Executive Officer, said, "In view of the
market's current valuation of S&K's equity, we have instituted this
opportunistic share repurchase program. We believe this is in the best interest
of our shareholders and demonstrates our confidence in our future growth
prospects."
The Company's common stock is listed on the Nasdaq Stock Market under the symbol
SKFB. As of October 31, 1998, the Company had 5,064,000 shares of common stock
outstanding. The Company's net book value as of October 31, 1998, was $10.50 per
share.
S&K Famous Brands, Inc. is a retailer of value-priced menswear operating 236
stores in 27 states reaching from the Eastern U.S. to Texas and from Maine to
Florida. S&K offers a complete line of men's apparel generally priced 20-40%
below department store and specialty store regular prices.
Except for historical information contained herein, the statements in this
release may be forward-looking and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve known and unknown risks and uncertainties,
which may cause the Company's actual results in future periods to differ
materially from forecasted or expected results. Those risks include, among other
things, the competitive environment in the value-priced men's apparel industry
in general and in the Company's specific market area, inflation, changes in
costs of goods and services and economic conditions in general and in the
Company's specific market area. Those and other risks are more fully described
in the Company's filings with the Securities and Exchange Commission.
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