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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: DECEMBER 11, 1996
Date of Earliest Event Reported: DECEMBER 10, 1996
DEPARTMENT 56, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-11908 13-3684956
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation or Identification No.)
organization)
ONE VILLAGE PLACE, 6436 CITY WEST PARKWAY, EDEN PRAIRIE, MN 55344
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (612) 944-5600
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ITEM 5. OTHER EVENTS.
A copy of the Press Release dated December 10, 1996, is attached hereto as
Exhibit 99. and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
99. Press Release, dated December 10, 1996.
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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.
Date: December 11, 1996
DEPARTMENT 56, INC.
/s/David H. Weiser
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David H. Weiser
Vice President, General Counsel and Secretary
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE
99. Press Release, dated December 10, 1996 5
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Exhibit 99.
[DEPARTMENT 56 INC. LETTERHEAD]
Investor Contacts: Mark Kennedy/Tim Schugel
Telephone: (612) 944-5600
DEPARTMENT 56 ANNOUNCES STOCK REPURCHASE PROGRAM
Minneapolis, MN, December 10, 1996 -- Department 56, Inc. (NYSE: DFS) today
announced that the Board of Directors has authorized a stock repurchase program.
The program, which is effective immediately, allows the repurchase in the open
market of up to 1.5 million shares through the end of June, 1998. The timing,
prices and amounts of shares repurchased will be determined at the discretion of
management based on its view of prevailing economic and market conditions. If
fully exercised, the authorization would reduce the number of Department 56
shares currently outstanding by approximately 7%.
"Department 56 enjoys very strong cash flow," said Susan Engel, President and
Chief Executive Officer of Department 56. "This provides us with ample
liquidity to repurchase shares while continuing to invest in our Company's
growth," she added.
Department 56, Inc. is a leading designer, importer and distributor of fine
quality collectibles and other specialty giftware products sold through gift and
home accessory retailers. The Company is best known for its series of
collectible, handcrafted lit ceramic and porcelain houses, buildings and related
accessories in The Original Snow Village Collection and The Heritage Village
Collection. In addition, Department 56, Inc. offers an extensive line of
holiday and home decorative products, including its Snowbabies collectible
porcelain and pewter hand-painted figurines, Christmas decorative products and
other giftware items.
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