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 - September 30, Commission File No. 1-
1999 10892
HAROLD'S STORES, INC.
(Exact name of registrant as specified in its charter)
Oklahoma 73-1308796
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
765 Asp Norman, Oklahoma 73069 (405) 329-4045
(Address of principal executive (Registrant's
offices) telephone number,
(Zip Code) including area
code)
Item 4. - Changes in Registrant's Certifying Accountant
(a) On September 28, 1999, the Registrant notified KPMG LLP (Oklahoma
City, Oklahoma office) of its decision to retain another independent public
accountant for the examination of its financial statements for fiscal year
ended January 29, 2000.
(b) During the last two most recent fiscal years and interim periods
through July 31, 1999, there were no disagreements with KPMG LLP on matters
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure which disagreement(s), if not resolved to the
satisfaction of KPMG LLP, would have caused them to make reference to the
subject matter of the disagreement(s) in connection with their report. In
addition, during such period, there have been no "reportable events" with
KPMG LLP as described in Items 304(a) (i) (v) of Regulation S-K.
(c) KPMG LLP's report on the financial statements of the Registrant for
the last two most recent fiscal years contained unqualified opinions.
(d) A copy of KPMG LLP's letter directed to the Securities and Exchange
Commission is attached as an exhibit to this report on Form 8-K.
(e) The change in the independent public accountants was recommended by
the Audit Committee of the Board of Directors.
(f) On September 28, 1999, the Registrant notified Arthur Andersen LLP
(Oklahoma City, Oklahoma office) of its intention to retain such firm as
independent public accountants for the examination of its financial
statements for the fiscal year ending January 29, 2000.
(g) During the last two most recent calendar years and through the date of
this report, Registrant did not consult Arthur Andersen LLP on either the
application of accounting principles to a completed or proposed specific
transaction, or on the type of audit opinion that might be rendered on
Registrant's financial statements.
Item 7. - Financial Statements and Exhibits
(c) Exhibits
99.1 Letter dated September 30, 1999 from KPMG LLP stating whether it
agrees with the statements set forth in Item 4 of this form 8-K.
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 hereunto duly authorized.
HAROLD'S STORES, INC.
By:/s/H. Rainey Powell
H. Rainey Powell
President, Chief Operating Officer
By:/s/Jodi L. Taylor
Jodi L. Taylor
Chief Financial Officer
September 30, 1999
Harold's Stores, Inc.
FORM 8-K
Date of Report: September 30, 1999
EXHIBIT INDEX
Item 7(c) Exhibits
99.1 Letter dated September 30, 1999 from KPMG LLP stating whether it
agrees with the statements set forth in Item 4 of the Form 8-K.
EXHIBIT 99.1
September 30, 1999
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for Harold's Stores, Inc. and,
under the date of March 15, 1999, we reported on the consolidated financial
statements of Harold's Stores, Inc. and subsidiaries as of January 30, 1999
and January 31, 1998, and for the 52 week periods ended January 30, 1999,
January 31, 1998, and February 1, 1997. On September 28, 1999, our
appointment as principal accountants was terminated. We have read Harold's
Stores, Inc. statements included under Item 4 of its Form 8-K dated
September 24, 1999, and we agree with such statements, except that we are
not in a position to agree or disagree with Harold's Stores, Inc.'s
statements that the change was recommended by the audit committee of the
board of directors or that Arthur Andersen LLP was not engaged regarding
the application of accounting principles to a specific transaction or type
of audit opinion that might be rendered on Harold's Stores, Inc.
consolidated financial statements.
Very truly yours,
/s/KPMG LLP
