Hartmarx Completes Acquisition of Exclusively Misook
July 20 2004 - 6:05PM
PR Newswire (US)
Hartmarx Completes Acquisition of Exclusively Misook CHICAGO, July
20 /PRNewswire-FirstCall/ -- Hartmarx Corporation (NYSE:HMX) today
announced the completion of its acquisition of the business of
Exclusively Misook, a designer and marketer of upscale women's knit
products sold through leading specialty stores. Homi B. Patel,
chairman and chief executive officer of Hartmarx, commented, "We
are glad that this transaction was consummated very quickly
following the early termination of the waiting period under the
Hart-Scott-Rodino Act. We can now focus our attention on expanding
the Exclusively Misook product offerings. As stated earlier, we
anticipate that Misook's annualized operating results will
contribute approximately $.12 - $.15 earnings per share in fiscal
2005." Hartmarx produces and markets business, casual and golf
apparel under its own brands including Hart Schaffner Marx,
Hickey-Freeman, Palm Beach, Coppley, Cambridge, Keithmoor, Racquet
Club, Naturalife, Pusser's of the West Indies, Royal, Brannoch,
Riserva, Sansabelt, Barrie Pace and Hawksley & Wight. In
addition, the Company has certain exclusive rights under licensing
agreements to market selected products under a number of premier
brands such as Austin Reed, Tommy Hilfiger, Kenneth Cole, Burberry
men's tailored clothing, Ted Baker, Bobby Jones, Jack Nicklaus,
Claiborne, Pierre Cardin, Perry Ellis, Andrea Jovine, Lyle &
Scott and Golden Bear. The Company's broad range of distribution
channels includes fine specialty and leading department stores,
value-oriented retailers and direct mail catalogs. The comments set
forth above contain forward-looking statements made in reliance
upon the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of forward-looking terminology such as
"anticipate," "believe," "continue," "estimate," "expect,"
"intend," "may," "should" or "will" or the negatives thereof or
other comparable terminology. Forward-looking statements are not
guarantees as actual results could differ materially from those
expressed or implied in such forward-looking statements as a result
of certain factors, including those factors set forth in Hartmarx's
filings with the Securities and Exchange Commission ("SEC"). The
statements could be significantly impacted by such factors as the
level of consumer spending for men's and women's apparel, the
prevailing retail environment, the Company's relationships with its
suppliers, customers, licensors and licensees, actions of
competitors that may impact the Company's business, possible
acquisitions and the impact of unforeseen economic changes, such as
interest rates, or in other external economic and political factors
over which the Company has no control. The reader is also directed
to the Company's periodic filings with the SEC for additional
factors that may impact the Company's results of operations and
financial condition. The Company undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
DATASOURCE: Hartmarx Corporation CONTACT: Glenn R. Morgan,
+1-312-372-6300, for Hartmarx Corporation Web site:
http://www.hartmarx.com/
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