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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):
May 15, 1996
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Richman Gordman 1/2 Price Stores, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-24328 47-0771211
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
12100 West Center Road, Omaha, Nebraska 68144
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(Address of principal executive offices)
Registrant's telephone number, including area code:
(402) 691-4000
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Not Applicable
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(Former name or former address, if changed since last report.)
Page 1 of 6
Exhibit Index appears on page 4.
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INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS
Richman Gordman 1/2 Price Stores, Inc. (the "Registrant") is filing this
Current Report on Form 8-K with respect to the resignation of Dennis E. Reaves,
Director, President and Chief Executive Officer of the Registrant. On May 15,
1996, the Registrant's Board of Directors accepted the resignation of Mr.
Reaves, effective as of the same day. The Board of Directors further appointed
Jeffrey J. Gordman, Director and Vice President, Planning and Allocation of the
Registrant, to serve as acting President. In addition, the Board of Directors
designated an Executive Management Committee headed by Mr. Gordman, and
including two additional members, James H. Cooke, Executive Vice President and
Chief Operating Officer of the Registrant, and Roger R. Faust, Senior Vice
President and Chief Financial Officer of the Registrant.
The Registrant is also filing this Current Report on Form 8-K with
respect to a news release (the "News Release"), dated May 16, 1996, regarding
the resignation of Mr. Reaves. Please see "EXHIBIT (99) -- ADDITIONAL EXHIBIT
- -- NEWS RELEASE."
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
(99) Additional Exhibit -- News Release
No other exhibits are applicable.
[Remainder of page intentionally left blank.]
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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.
Richman Gordman 1/2 Price
Stores, Inc.
Date: 5/17/96 By:/s/ Roger R. Faust
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Roger R. Faust
Senior Vice President,
Secretary, Treasurer and
Chief Financial Officer
5490A
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EXHIBIT INDEX
Exhibit Page
(99) Additional Exhibit -- News Release 5
No other exhibits are applicable.
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EXHIBIT (99)
Additional Exhibit -- News Release
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[RICHMAN GORDMAN 1/2 PRICE STORES, INC. LETTERHEAD]
For more information, contact:
Jeff Gordman, President
402/691-4200
NEWS RELEASE
FOR IMMEDIATE RELEASE
MAY 16, 1996
1/2 PRICE STORES ANNOUNCE NEW PRESIDENT
Omaha, NE-Paul M. Bass, Jr., Chairman of the Board of Directors of
Richman Gordman 1/2 Price Stores, Inc. announced the resignation of President
and CEO Dennis E. Reaves, effective as of May 15, 1996.
Also announced by the Board of Directors was the election of Jeffrey J.
Gordman as acting President of Richman Gordman 1/2 Price Stores, Inc. An
Executive Management Committee, to be headed by Gordman, was additionally
named. Other members of this committee are James H. Cooke, Executive Vice
President and COO and Roger R. Faust, Senior Vice President and CFO.
Bass said of the changes, "An experienced and strong management team is
in place which is well-suited to carry out the company's plan to solidify
financial results while broadening its customer base."
Gordman assumes charge of the Omaha-based chain of 32 off-price retail
stores that operate in eight states throughout the Midwest. The 1/2 Price
stores offer top quality, national brand merchandise at one-half of department
store regular retail prices everyday. The merchandise mix includes apparel,
shoes and accessories for the entire family, as well as housewares, home
furnishings, small electronics, sporting goods, luggage and toys.
Previously Vice President of Planning and Allocation, Gordman has held
a variety of positions in the stores and at corporate headquarters. He holds a
Master of Science in Management degree from MIT's Sloan School of Management,
in addition to an undergraduate degree from the Wharton School at University of
Pennsylvania.
Gordman expressed, "The 1/2 Price Stores have a very unique,
differentiated position among retailers. There truly is no other retailer like
us. We have a very valid mission, which is to provide our customers with top
quality national brands at exceptional values every day."
12100 W. Center Rd. - Omaha, NE 68144-3998 - Ph. 402/691-4000 - Fax 402/691-4269
