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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 0-19714
NOTIFICATION OF LATE FILING
(Check One): (X) Form 10-K ( ) Form 11-K
( ) Form 20-F ( ) Form 10-Q ( ) Form N-SAR
For Period Ended: January 31, 1998
( ) Transition Report on Form 10-K ( ) Transition Report on Form 10-Q
( ) Transition Report on Form 20-F ( ) Transition Report on Form N-SAR
( ) Transition Report on Form 11-K
For the Transition Period Ended:_______________________________________________
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:
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PART I. REGISTRANT INFORMATION
Full name of registrant PERFUMANIA, INC.
Former name if applicable
Address of principal executive office 11701 N.W. 101 Road
City, State and Zip Code MIAMI, FLORIDA 33178
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;
(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 5th 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 Registrant has not yet completed its annual audit because it is in
the process of analyzing and determining appropriate reserves for impairment of
retail store fixed assets and reserves for excess inventory.
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PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification.
RON A. FRIEDMAN 305 889-1600
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(Name) (Area code) (Telephone number)
(2) Have all other periodic reports required under Section 13 or
15(d) of the Securities and 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
registrants were 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.
For the year ended January 31, 1998, Perfumania, Inc. will report a net
loss due to the following: 1) an increase in provision for doubtful accounts and
write-offs of wholesale accounts receivable, 2) provision for impairment of
retail store fixed assets as per Statement of Financial Accounting Standards No.
121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets to Be Disposed Of" and 3) a provision for excess inventory. The Company
is in the process of analyzing and quantifying the above amounts which will be
reported in its Form 10-K for the year ended January 31, 1998.
PERFUMANIA, INC.
(Name of registrant as specified in charter.)
Has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date May 1, 1998 By /s/ RON A. FRIEDMAN
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Ron A. Friedman
President, Chief Financial Officer,
Chief Operating Officer, Treasurer and
Secretary
