SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
[Mark One]
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended November 30, 1995.
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from _______________ to
__________.
Commission file number: 1-10157.
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
(Full title of the plan; address is the same as
that of the issuer named below)
L.A. GEAR, INC.
2850 Ocean Park Boulevard
Santa Monica, California 90405
(Name of issuer of securities held pursuant to the plan
and the address of its principal executive office)
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULES
- ---------------------------------------------------------
Page
Report of Independent Accountants..................... F-1
FINANCIAL STATEMENTS
- --------------------
Statement of Assets Available for Plan Benefits -
November 30, 1995 and 1994.......................... F-2
Statement of Changes in Assets Available for
Plan Benefits - Years ended November 30, 1995
and 1994............................................ F-3
Notes to Financial Statements......................... F-4 - F-9
SUPPLEMENTARY SCHEDULES*
- ------------------------
Item 27a-Form 5500:
Schedule of Assets Held for Investment Purposes
at November 30, 1995............................ F-10
Item 27b-Form 5500:
Schedule of Loans or Fixed Income Obligations
at November 30, 1995............................ F-11
Item 27d-Form 5500:
Schedule of Reportable Transactions for the
Year ended November 30, 1995.................... F-12
Exhibit
EXHIBIT No.
- ------- ---
Consent of Price Waterhouse LLP....................... 23
* All other schedules required by the Department of Labor Rules
and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974 and not included herein
have been omitted because they are not applicable.
Signature
Pursuant to the requirements of the Securities Exchange Act
of 1934, the 401(k) Plan Committee of L.A. Gear, Inc. has duly
caused this annual report to be signed on its behalf by the
undersigned hereunto duly authorized.
L.A. GEAR, INC. EMPLOYEE
STOCK SAVINGS PLAN
By: /s/ Tracey C. Doi
-----------------------------
Tracey C. Doi
Vice President and Controller
Member, 401(k) Plan Committee
REPORT OF INDEPENDENT ACCOUNTANTS
---------------------------------
May 22, 1996
To the Participants and Advisory Committee of the
L.A. Gear, Inc. Employee Stock Savings Plan
In our opinion, the accompanying Statement of Assets Available for
Plan Benefits and the related Statement of Changes in Assets
Available for Plan Benefits present fairly, in all material
respects, the assets available for plan benefits of the L.A. Gear,
Inc. Employee Stock Savings Plan at November 30, 1995 and 1994,
and the changes in assets available for plan benefits for the
years then ended, in conformity with generally accepted accounting
principles. These financial statements are the responsibility of
the plan's management; our responsibility is to express an opinion
on these financial statements based on our audits. We conducted
our audits of these statements in accordance with generally
accepted auditing standards which require that we plan and perform
the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by
management, and evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable
basis for the opinion expressed above.
Our audits were performed for the purpose of forming an opinion on
the basic financial statements taken as a whole. The additional
information included in the supplementary schedules is presented
for purposes of additional analysis and is not a required part of
the basic financial statements but is additional information
required by ERISA. Such information has been subjected to the
auditing procedures applied in the audits of the basic financial
statements and, in our opinion, is fairly stated in all material
respects in relation to the basic financial statements taken as a
whole.
/s/ Price Waterhouse LLP
- ------------------------
Price Waterhouse LLP
Los Angeles, California
<TABLE>
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
STATEMENT OF ASSETS AVAILABLE FOR PLAN BENEFITS
<CAPTION>
November 30,
-----------------
1995 1994
---- ----
<S> <C> <C>
Investment at fair value:
Sweep Account $36,598 $48,200
Collective Funds:
Money Market Fund * 447,771 420,905
Asset Allocation Fund * 1,152,112 993,745
Bond Index Fund * 552,314 501,221
Growth Stock Fund * 1,352,832 922,872
S&P 500 Stock Fund * 1,000,828 757,560
Common Stock:
L.A. Gear, Inc. Common Stock 205,874 487,804
Other:
Participant Loans 186,290 231,162
---------- ----------
Total investments 4,934,619 4,363,469
---------- ----------
Employer contributions receivable 297,558 397,240
Employee contributions receivable 32,212
Other receivables 5,982
---------- ----------
Total receivables 335,752 397,240
---------- ----------
Assets available for Plan benefits $5,270,371 $4,760,709
========== ==========
</TABLE>
* Investment balance represents 5% or more of the Plan's assets
available for Plan benefits.
The accompanying notes are an integral part of the financial
statements.
<TABLE>
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR PLAN BENEFITS
----------------------------------------------------------
<CAPTION>
Year Ended
November 30,
-----------------
1995 1994
---- ----
<S> <C> <C>
Additions to assets attributed to:
Contributions:
Participants $1,243,803 $1,411,023
Employer 297,558 397,240
Rollovers 23,996 69,676
---------- ----------
1,565,357 1,877,939
---------- ----------
Investment income (loss):
Net appreciation (depreciation) in fair
value of investments 525,635 (494,486)
Interest and dividend income 46,408 32,241
---------- ----------
572,043 (462,245)
---------- ----------
Increase in other receivables 5,982
---------- ----------
Total sources of assets 2,143,382 1,415,694
---------- ----------
Deductions from assets attributed to:
Benefits and expenses:
Benefits paid to participants 1,629,927 980,922
Administrative expenses 3,793 2,835
---------- ----------
Total application of assets 1,633,720 983,757
---------- ----------
Increase in assets available for Plan
benefits 509,662 431,937
Assets available for Plan benefits:
Beginning of year 4,760,709 4,328,772
---------- ----------
End of year $5,270,371 $4,760,709
========== ==========
</TABLE>
The accompanying notes are an integral part of the financial
statements.
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
-----------------------------
NOTE 1 - GENERAL DESCRIPTION OF THE PLAN:
- ----------------------------------------
The L.A. Gear, Inc. Employee Stock Savings Plan (the Plan) became
effective December 1, 1985 and was amended and restated effective
August 1, 1993 to conform to current law. The Plan is subject to
the provisions of the Employee Retirement Income Security Act of
1974 (ERISA).
The Plan is a defined contribution plan sponsored by L.A. Gear,
Inc. (the Company) and also functions as an employee stock savings
plan under Section 4975(e) of the Internal Revenue Code (the
Code). The Plan covers all qualified employees, as defined by the
Plan, provided they have completed at least thirty days of
service, have worked at least 83 hours during that period and are
21 years of age or older. Plan participants should refer to the
Plan agreement for more complete information.
Administrative Fees
- -------------------
Substantially all costs and expenses of administering the Plan are
paid by the Company.
Contributions
- -------------
Participants in the Plan may contribute, on a tax-deferred basis,
from 1% to 17% of their compensation, up to a maximum annual
contribution as defined by the Plan. Participants may also elect
to make after-tax contributions to the Plan in an amount which
does not exceed 10% of the limits as prescribed by the Plan.
Participants may change their deferral percentage and/or after-tax
contribution election as of any date but only once in any three-
month period. Company matching contributions are allocated based
on participant deferrals. The Company matches 50% of participant
contributions up to 6% of their annual compensation. In 1995 and
1994, all Company contributions were made in L.A. Gear, Inc.
common stock. Total annual additions to a participant's account
may not exceed the lesser of $30,000 or 25% of the participant's
taxable compensation.
Participants are 100% vested in their deferred compensation and
rollover contribution accounts and become vested in Company
contributions as follows: 20% vested after one year of service
under the Plan, 40% vested after two years, 60% vested after three
years, 80% vested after four years and 100% vested after five
years or upon death, disability or attainment of age 65. Any
amount forfeited by an employee terminating the Plan before he/she
is fully vested remains in the Plan and is applied toward the
funding of employer contributions in future Plan years. There
were approximately $36,900 and $52,600 in forfeitures at November
30, 1995 and 1994, respectively, which will be or were utilized
to reduce Company contributions.
NOTE 1: (Continued)
Participant Account Balances
- ----------------------------
Separate accounts are maintained for each participant's deferred
compensation, rollover and Company contribution balances.
Earnings of the Plan are allocated to the participant accounts
according to the ratio that a participant's account balance bears
to the total of all participant account balances.
Benefits
- --------
Upon normal retirement at age 65, early retirement at age 55 (with
10 years of service), disability, death or certain hardship cases,
participants or their beneficiaries are entitled to receive their
vested balances in either a lump sum distribution or in
installments. Pursuant to Plan provisions, participants may
request loans secured by their account balances up to 50% of their
vested balance in the Plan.
Plan Termination
- ----------------
Although the Company has not expressed any intent to terminate the
Plan, the Company has the right to do so at any time. Upon Plan
termination, participants automatically become 100% vested in
Company contributions.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
- ---------------------------------------------------
Basis of Presentation
- ---------------------
The accompanying financial statements were prepared on the accrual
basis of accounting.
Investments
- -----------
As of November 30, 1995, the Plan participated in five collective
trust funds managed by Wells Fargo Bank (the Trustee).
The investment in each investment fund is maintained in shares.
The Trustee determines the share values of each investment fund as
of each trade date. To the extent an investment fund is composed
of collective investment funds of the Trustee, the net asset and
share values are determined in accordance with the rules governing
the collective investment funds. The net asset value of each
investment fund is based on the fair market value of its
underlying assets.
The investment in L.A. Gear, Inc. common stock is stated at fair
market value as determined by the closing price on the New York
Stock Exchange on the valuation date. The net change in the fair
value of investments including realized and unrealized gains and
losses is reflected in the accompanying Statement of Changes in
Assets Available for Plan Benefits with Fund Information in Note
3.
NOTE 2: (Continued)
Participant loans are composed of loans with interest rates
ranging from 8% to 11% per annum with related terms ranging from 3
to 10 years.
NOTE 3 - INVESTMENTS:
- ---------------------
Participants direct the investment of their contributions into
five funds administered by Wells Fargo Bank. All contributions are
temporarily deposited in a sweep account prior to allocating the
funds into the following investments:
Money Market Fund - This fund invests in a variety of money market
instruments including U.S. Government and agency obligations, bank
obligations and short-term corporate debt instruments.
Asset Allocation Fund - This fund attempts to earn a high level of
total investment return by allocating its investments among three
asset classes - common stocks, U.S. Treasury bonds and money
market instruments.
Bond Index Fund - This fund seeks the total rate of return of the
U.S. market for issued and outstanding high-grade corporate and
U.S. Government bonds.
Growth Stock Fund - This fund seeks above-average capital
appreciation by investing primarily in growth-oriented common
stocks.
S&P 500 Stock Fund - This fund invests its assets primarily in the
same stocks and in substantially the same percentages as the S&P
500 Composite Price Index.
L.A. Gear, Inc. Common Stock - All L.A. Gear, Inc. common stock is
valued based upon the closing price on the New York Stock Exchange
as of the respective reporting date.
Activity in each investment alternative for 1995 and 1994 is
summarized in the schedules on pages F-7 and F-8, respectively.
At November 30, 1995 the employer contributions receivable of
$297,558 was included as a contribution to L.A. Gear, Inc.
Common Stock. Participant contributions receivable of
$32,212 was allocated to the various funds in accordance with
participant directives as follows: Money Market Fund $5,141;
Asset Allocation Fund $7,293; Bond Index Fund $3,029; Growth
Stock Fund $7,130; S&P 500 Stock Fund $6,121; and Participant
Loans $3,498.
At November 30, 1994 the employer contributions receivable of
$397,240 was included as a contribution to L.A. Gear, Inc.
Common Stock.
<TABLE>
L.A. GEAR, INC. EMPLOYEE STOCK SAVINGS PLAN
STATEMENT OF CHANGES IN ASSETS
AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED NOVEMBER 30, 1995
<CAPTION>
Participant Directed Non-Participant Directed
------------------------------------------------------ ----------------------------
L.A.
Gear,
Money Asset Bond Growth S&P 500 Inc. Partici-
Market Allocation Index Stock Stock Common pant Sweep
Fund Fund Fund Fund Fund Stock Loans Account Other Total
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Additions to
assets attributed
to:
Contributions:
Participants $175,507 $320,870 $145,991 $348,238 $243,448 $8,451 $3,498 $(2,200) $ $1,243,803
Employer 350,136 (52,578) 297,558
Rollovers 7,491 1,770 4,263 4,613 5,859 23,996
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
182,998 322,640 150,254 352,851 249,307 358,587 3,498 (54,778) 1,565,357
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Investment income:
Net appreciation
(depreciation)
in fair value of
investments 291,618 88,502 430,170 282,259 (566,914) 525,635
Interest and
dividend income 26,177 18,739 1,492 46,408
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
26,177 291,618 88,502 430,170 282,259 (566,914) 18,739 1,492 572,043
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Increase in other
receivables 5,982 5,982
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Net transfers in 3,611 47,453 16,827 9,059 45,842 122,792
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Total sources of
assets 212,786 614,258 238,756 830,474 548,393 (208,327) 31,296 (7,444) 5,982 2,266,174
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Deductions from
assets attributed
to:
Benefits paid to
participants 180,294 398,454 153,201 392,765 298,448 130,880 72,670 3,215 1,629,927
Administrative
expenses 485 722 468 619 556 943 3,793
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
180,779 399,176 153,669 393,384 299,004 130,880 72,670 4,158 1,633,720
Net transfers out 49,422 30,965 42,405 122,792
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Total application
of assets 180,779 448,598 184,634 393,384 299,004 173,285 72,670 4,158 1,756,512
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Net increase
(decrease) 32,007 165,660 54,122 437,090 249,389 (381,612) (41,374) (11,602) 5,982 509,662
Assets available for
benefits:
Balance,
beginning year 420,905 993,745 501,221 922,872 757,560 885,044 231,162 48,200 4,760,709
-------- ---------- -------- ---------- ---------- -------- -------- ------- ------ ----------
Balance, end of
year $452,912 $1,159,405 $555,343 $1,359,962 $1,006,949 $503,432 $189,788 $36,598 $5,982 $5,270,371
======== ========== ======== ========== ========== ======== ======== ======= ====== ==========
</TABLE>
<TABLE>
L.A. GEAR, INC. EMPLOYEE STOCK SAVINGS PLAN
STATEMENT OF CHANGES IN ASSETS
AVAILABLE FOR PLAN BENEFITS WITH FUND INFORMATION
FOR THE YEAR ENDED NOVEMBER 30, 1994
<CAPTION>
Participant Directed Non-Participant Directed
------------------------------------------------------ ----------------------------
L.A.
Gear,
Money Asset Bond Growth S&P 500 Inc. Partici-
Market Allocation Index Stock Stock Common pant Sweep
Fund Fund Fund Fund Fund Stock Loans Account Total
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Additions to assets
attributed to:
Contributions:
Participants $201,266 $404,128 $159,152 $368,379 $272,721 $5,377 $ $ $1,411,023
Employer 434,586 (37,346) 397,240
Rollovers 1,223 24,764 17,042 13,682 12,965 69,676
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
202,489 428,892 176,194 382,061 285,686 439,963 (37,346) 1,877,939
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Investment income:
Net appreciation
(depreciation)
in fair value of
investments (35,513) (20,539) 24,830 5,299 (468,563) (494,486)
Interest and
dividend income 14,548 16,512 1,181 32,241
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
14,548 (35,513) (20,539) 24,830 5,299 (468,563) 16,512 1,181 (462,245)
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Net transfers in 15,052 128,153 61,881 205,086
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Total sources of
assets 217,037 393,379 155,655 421,943 290,985 (28,600) 144,665 25,716 1,620,780
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Deductions from
assets attributed
to:
Benefits paid to
participants 189,583 159,217 128,988 143,142 182,862 116,300 56,223 4,607 980,922
Administrative
expenses 557 697 475 597 501 8 2,835
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
190,140 159,914 129,463 143,739 183,363 116,308 56,223 4,607 983,757
Net transfers out 16,348 21,751 67,656 41,198 58,133 205,086
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Total application
of assets 206,488 181,665 197,119 143,739 224,561 174,441 56,223 4,607 1,188,843
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Net increase
(decrease) 10,549 211,714 (41,464) 278,204 66,424 (203,041) 88,442 21,109 431,937
Assets available
for benefits:
Balance, beginning
year 410,356 782,031 542,685 644,668 691,136 1,088,085 142,720 27,091 4,328,772
-------- ---------- -------- ---------- ---------- --------- -------- -------- ----------
Balance, end of
year $420,905 $993,745 $501,221 $922,872 $757,560 $885,044 $231,162 $48,200 $4,760,709
======== ========== ======== ========== ========== ========= ======== ======== ==========
</TABLE>
NOTE 4 - FEDERAL INCOME TAXES:
- -----------------------------
The Internal Revenue Service determined in a letter dated January 17,
1989 that the Plan constitutes a qualified Plan under Sections 401(a),
401(k) and 4975(e) of the Internal Revenue Code and that the trust is
exempt from income taxes under Section 501(a) of the Code. A new
determination letter from the Internal Revenue Service was requested
prior to November 30, 1995 and a favorable determination letter was
received subsequent to the Plan year end.
The Plan has determined that the Company made employer matching
contributions to certain participants ineligible for such
contributions during the Plan year ended November 30, 1995. The
over-contributions in the amount of $5,982 have been recorded as
other receivables at November 30, 1995.
NOTE 5 - PLAN AMENDMENTS:
- ------------------------
Effective February 1, 1995 the Plan was amended to allow employees to
participate in the Plan after thirty days of service provided they
worked at least 83 hours during that period and were at least age 21.
Prior to this amendment, eligibility for participation in the Plan
required three months of service.
In November 1995, the Plan was also amended effective for the Plan
year beginning December 1, 1995, to provide for the following:
() Company matching contributions will be made on a bi-weekly basis to
coincide with participant contributions. Prior to the amendment,
all Company matching contributions were made at the end of the Plan
year.
() Participants may elect to have 50% of the Company matching
contribution made in cash. Prior to the amendment, all Company
matching contributions were made in L.A. Gear, Inc. common stock.
() Participants may elect to contribute to the L.A. Gear Stock Fund
which invests in L.A. Gear, Inc. common stock. Prior to the
amendment, participant contributions were limited to the Wells
Fargo collective trust funds with only Company matching
contributions invested in L.A. Gear, Inc. common stock.
NOTE 6 - SUBSEQUENT EVENTS:
- --------------------------
Subsequent to the Plan year end, it was determined that the Plan
was not in compliance with the annual non-discrimination test for
the Plan year ended November 30, 1995. The Company intends to
remedy such non-compliance within the time allowed under the
regulations of the Internal Revenue Code.
The fair market value of the November 30, 1995 Plan investment in
Company common stock increased by $231,124 during the period from
December 1, 1995 to May 22, 1996.
<TABLE>
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
ITEM 27a-FORM 5500:
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
NOVEMBER 30, 1995
<CAPTION>
Identity of Description of Shares, units Cost of Current
issue investment principal amount asset value
- ------------------- -------------------- ----------------- ---------- ----------
<S> <C> <C> <C> <C>
Sweep Account -- $ 36,598 $ 36,598
Collective Funds:
Wells Fargo Bank* Money Market Fund 447,771 447,771 447,771
Wells Fargo Bank* Asset Allocation
Fund 60,862 944,734 1,152,112
Wells Fargo Bank* Bond Index Fund 39,143 487,985 552,314
Wells Fargo Bank* Growth Stock Fund 76,909 991,971 1,352,832
Wells Fargo Bank* S & P 500 Stock Fund 45,184 750,095 1,000,828
Common Stock:
L.A. Gear, Inc.* Common Stock 129,481 866,242 205,874
Participant Loans Due 12/22/95-
3/19/04; 8%-11% 186,290 186,290
---------- ----------
Total investments held $4,711,686 $4,934,619
========== ==========
</TABLE>
* Party-in-interest.
<TABLE>
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
ITEM 27b-FORM 5500
SCHEDULE OF LOANS OR FIXED INCOME OBLIGATIONS
NOVEMBER 30, 1995
<CAPTION>
Detailed description of loan
including dates of making and
maturity, interest rate, the
type and value of collateral,
Amount received Unpaid any renegotiation of the loan
Original during reporting year balance at and the terms of the Amount over due
amount of --------------------- end of renegotiations and other ---------------
Name and address loan Principal Interest year material items Principal Interest
- ---------------- --------- --------- -------- ---------- ------------------------------ --------- --------
<S> <C> <C> <C> <C> <C> <C> <C>
Lori Schultze* $968 $382 $32 $210 Loan date: 1/10/94; Maturity $167 $1
15207 Mariposa Avenue date: 1/5/96; Interest rate:
Chino Hills, CA 91709 8%; Collateral - Vested
balance
* Overdue amounts were remitted by the participant subsequent to the Plan year end.
</TABLE>
<TABLE>
L.A. GEAR, INC.
EMPLOYEE STOCK SAVINGS PLAN
ITEM 27d-FORM 5500 - SCHEDULE OF REPORTABLE TRANSACTIONS *
YEAR ENDED NOVEMBER 30, 1995
<CAPTION>
Current Value Net
Party Description Number of Purchase Selling Lease Expense Cost of of asset on gain
involved of asset transactions price price rental incurred asset transaction date or (loss)
-------- -------- ------------ ----- ----- ------ -------- ----- ---------------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Wells Fargo Bank** Money Market Fund 52 $ 705,878 -- -- -- -- $ 705,878 --
Wells Fargo Bank** Money Market Fund 79 -- $700,610 -- -- $700,610 700,610 --
Wells Fargo Bank** Asset Allocation
Fund 62 304,455 -- -- -- -- 304,455 --
Wells Fargo Bank** Asset Allocation
Fund 93 -- 437,706 -- -- 389,422 437,706 $ 48,284
Wells Fargo Bank** Growth Stock Fund 71 382,571 -- -- -- -- 382,571 --
Wells Fargo Bank** Growth Stock Fund 86 -- 382,780 -- -- 306,034 382,780 76,746
Wells Fargo Bank** S & P Stock Fund 70 263,866 -- -- -- -- 263,866 --
Wells Fargo Bank** S & P Stock Fund 85 -- 302,857 -- -- 250,021 302,857 52,836
L.A. Gear, Inc.** Common Stock 10 446,324 -- -- -- -- 446,324 --
L.A. Gear, Inc.** Common Stock 81 -- 161,339 -- -- 378,791 161,339 (217,452)
* Transactions or series of transactions in excess of 5% of the current value of the
Plan's assets as of December 1, 1994 as defined in Section 2520.103-6 of the
Department of Labor Rules and Regulations for Reporting and Disclosure under
ERISA.
** Party-in-interest.
</TABLE>
EXIBIT 23
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the
Registration Statement on Form S-8 (No. 33-64287) of L.A.
Gear, Inc. of our report dated May 22, 1996 appearing on
page F-1 of this Form 11-K.
/s/ Price Waterhouse LLP
- ------------------------
Price Waterhouse LLP
Los Angeles, California
May 22, 1996
