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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 (Date of earliest event reported): August 13, 1998
KENNETH COLE PRODUCTIONS, INC.
(Exact name of registrant as specified in its charter)
New York 1-13082 13-3131650
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
152 West 57th Street, New York 10019
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 265-1500
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Item 5: Other Event
On August 13, 1998, the Board of Directors of Kenneth
Cole Productions, Inc., (the "Company") authorized
management to repurchase, from time to time, up to 500,000
shares of the Company's Common Stock in the open market or
privately negotiated transactions.
Reference is made to the Company's news release, dated
August 13, 1998, attached as an Exhibit hereto and
incorporated herein by reference.
Item 7: Financial Statements and Exhibits.
(c) Exhibits:
99.1: News Release of Kenneth Cole Productions, Inc.,
dated August 13, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this Current Report
to be signed on its behalf by the undersigned hereunto duly
authorized.
Kenneth Cole Productions, Inc.
Registrant
August 18, 1998 STANLEY A MAYER
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By: STANLEY A. MAYER
Title: EXECUTIVE VICE PRESDIENT AND CFO
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EXHIBIT INDEX
Exhibit No. Description Sequentially
Numbered Page
99.1 News Release of Kenneth Cole Productions, Inc. 5
dated August 13, 1998
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Exhibit 99.1
For Immediate Release:
From: Kenneth Cole Productions, Inc. (NYSE:KCP)
152 West 57th Street
New York, NY 10019
Contact: Stanley A. Mayer
Executive Vice President & Chief Financial Officer
201-864-8080
KENNETH COLE ANNOUNCES STOCK REPURCHASE PROGRAM
New York, NY - August 13, 1998 - The Board of Directors of
Kenneth Cole Productions, Inc. (NYSE:KCP) announced today
that its Board of Directors has authorized management to
repurchase, from time to time, up to 500,000 shares of the
Company's common stock in the open market or privately
negotiated transactions.
This action reflects the Board's belief that the Company's
stock is significantly undervalued and demonstrates the
Board's optimism in the Company's future and commitment to
enhancing shareholder value.
Kenneth D. Cole, President and CEO stated, "As a lifestyle
branded company we believe that our Company's stock,
currently trading at about 10-11 times next years expected
earnings, is significantly undervalued, particularly
considering the current strength of our business and our
brands."
Kenneth Cole Productions, Inc. designs and markets a broad
range of premium quality footwear, handbags, apparel and
accessory products for the fashion conscious consumer.
