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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC. 20549
FORM 12b-25
Commission File Number: 0-19369
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NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q [ ] Form N-SAR
For Period Ended: AUGUST 29, 1998
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-K [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: N/A
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Read attached instruction sheet before preparing form. Please print or
type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: N/A
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PART I
REGISTRANT INFORMATION
Full name of registrant: LITTLE SWITZERLAND, INC.
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Former name (if applicable): N/A
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Address of principal executive office (Street and number):
161-B CROWN BAY CRUISE SHIP PORT
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City, State and Zip Code: ST. THOMAS, USVI 00802
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PART II
RULE 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check appropriate box.)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
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[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or
before the 15th calendar day following the prescribed due date; or the
subject quarterly report or transition report on Form 10-Q, or portion
thereof will be filed on or before the fifth calendar day following the
prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F, 10-
Q, N-SAR or the transition report portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
The Quarterly Report on Form 10-Q for the period ended August 29, 1998
cannot be filed within the prescribed time period because the Company has not
yet completed the Company's financial statements for the quarter ended August
29, 1998. During the preparation of the consolidated financial statements for
the quarter ended August 29, 1998, the Company's operations were disrupted for a
significant period of time due to Hurricane Georges. The Company operates
retail stores on ten islands located in the Caribbean, with several such stores
located in the Eastern Caribbean. Due to Hurricane Georges certain of the
Company's retail stores, including its corporate headquarters in St. Thomas,
U.S.V.I., were closed for several days. The Company also experienced loss of
electricity and telephone communications, which were inoperable for several
days, at certain of its locations. In addition, since Hurricane Georges,
management's focus has been on evaluating the impact Hurricane Georges had on
its business and property, reopening its stores and preparing insurance claims
on behalf of the Company in connection with the hurricane damage to certain of
the Company's properties. As a result of the impact and disruption Hurricane
Georges had on the Company's operations, the Company is still in the process of
finalizing its consolidated financial statements for the quarter ended August
29, 1998.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
DAVID J. NACE, (340) 776-2010
(2) Have all other periodic reports required under Section 13 or 14(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[X] Yes [ ] No
If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made. SEE ATTACHMENT.
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LITTLE SWITZERLAND, INC.
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(Name of Registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized:
Date: October 14, 1998 By: /s/ David J. Nace
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David J. Nace
Chief Financial Officer, Executive
Vice President and Treasurer
Instruction. The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and
title of the person signing the form shall be typed or printed beneath the
signature. If the statement is signed on behalf of the registrant by an
authorized representative (other than an executive officer), evidence of
the representative's authority to sign on behalf of the registrant shall be
filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal criminal
violations (see 18 U.S.C. 1001).
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LITTLE SWITZERLAND, INC.
FILE NO. 0-19369
FORM 12b-25
PART IV ATTACHMENT
As the date hereof, the Company anticipates that a significant change in
results of operations for the quarter ended August 29, 1998 from the quarter
ended August 30, 1997 will be reflected by the earnings statements to be
included in the Quarterly Report on Form 10-Q for the quarter ended August 29,
1998. The Company anticipates that it will report a significant loss in
revenues for the quarter ended August 29, 1998, primarily as a result of the
loss of sales relating to Rolex products. However, because the Company is in
the process of completing its consolidated financial statements for the quarter
ended August 29, 1998, at this time, the Company is unable to determine the
exact amount of such loss or to complete a reasonable estimate of the results of
operations.
