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): May 3, 2004
Blair Corporation
(Exact name of registrant as specified in its charter)
Delaware 001-00878 25-0691670
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(State or other (Commission File No.) (I.R.S. Employer
Jurisdiction of Identification No.)
incorporation)
220 Hickory Street, Warren, Pennsylvania 16366-0001
(Address of Principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (814) 723-3600
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events and Regulation FD Disclosure
On May 3, 2004, Blair Corporation (the "Company") announced as a part of
an analysis, assisted by McKinsey & Company, a national marketing and strategy
consulting firm, that Blair will discontinue circulation of its 4-year-old
Crossing Pointe catalog title in early 2005 and is presently evaluating the
opportunity for maintaining a Web-based Crossing Pointe business.
A copy of the press release regarding the foregoing is attached hereto
as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99.1. Press Release
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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: May 3, 2004 Blair Corporation
By: John E. Zawacki
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John E. Zawacki
President and Chief Executive Officer
By: Bryan J. Flanagan
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Bryan J. Flanagan
Senior Vice President and Chief
Financial Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE:
CONTACTS:
Blair Corporation Carl Hymans
Bryan Flanagan, SVP/Chief Financial Officer G.S. Schwartz & Co
Thomas McKeever, SVP/Operations & Administration 212-725-4500
814-723-3600 carlh@schwartz.com
BLAIR CORPORATION TO FOCUS NEW BUSINESS DEVELOPMENT ON CORE CUSTOMERS
WARREN, PA, (May 3, 2004) Blair Corporation (Amex: BL), (www.blair.com), a
national catalog and multi-channel direct marketer of women's and men's apparel
and home products, has announced its intention to more fully focus new business
development efforts on the core Blair brand and its proven appeal to significant
market segments.
The decision to focus on core operations is based in part on the historical
success of the Blair brand and an extensive consumer and brand strategy study
undertaken by the Company as a component of its efforts to enhance profitability
and shareholder value.
As a part of this analysis, assisted by McKinsey & Company, a national marketing
and strategy consulting firm, Blair will discontinue circulation of its
4-year-old Crossing Pointe catalog title in early 2005 and is presently
evaluating the opportunity for maintaining a Web-based Crossing Pointe business.
John E. Zawacki, President and CEO, stated, "Historically, the core Blair brand
has been the cornerstone of our business and has generated the growth and
profitability to position us for the future. Our actions, based on extensive
consumer research and the success of our core brand, will enable us to get
closer to the markets we serve best, maintain the customer intimacy that has
been the hallmark of our business and further establish the Blair brand for a
new generation of customers." Mr. Zawacki added, "We do not anticipate that our
decision regarding Crossing Pointe will have any negative effect on Blair's 2004
profitability but do expect it to benefit the Company's financial performance in
2005 and beyond."
The Company anticipates that the current direct contingent of non-management
Crossing Pointe associates, as well as other interdepartmental support
personnel, will be redeployed within the Blair business.
ABOUT BLAIR
Headquartered in Warren, Pennsylvania, Blair Corporation sells a broad range of
women's and men's apparel and home products through direct mail marketing and
its Web sites www.blair.com, www.crossingpointe.com and www.irvinepark.com .
Blair Corporation employs over 2,500 people and operates facilities and retail
outlets in Northwestern Pennsylvania as well as a catalog outlet in Wilmington,
Delaware. The Company, which has annual sales of more than $580 million, is
publicly traded on the American Stock Exchange (AMEX-BL).
This release contains certain statements, including without limitation,
statements containing the words "believe," "plan," "expect," "anticipate," and
words of similar import relating to future results of the Company (including
certain projections and business trends) that are "forward-looking statements"
as defined in the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those projected as a result of certain risks
and uncertainties, including but not limited to, changes in political and
economic conditions, demand for and market acceptance of new and existing
products, as well as other risks and uncertainties detailed in the most recent
periodic filings of the Company with the Securities and Exchange Commission.