-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JK8LglB7i5qmYKgzqim4XkxKO6Xxy/A38F0PQWZnN7PZUM03eyWveJ8nl/SYmEYG dxUL3etDoUMxC3Espa/16g== 0000950123-03-000728.txt : 20030129 0000950123-03-000728.hdr.sgml : 20030129 20030129171227 ACCESSION NUMBER: 0000950123-03-000728 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030129 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HANOVER DIRECT INC CENTRAL INDEX KEY: 0000320333 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-CATALOG & MAIL-ORDER HOUSES [5961] IRS NUMBER: 138053260 STATE OF INCORPORATION: DE FISCAL YEAR END: 1227 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08056 FILM NUMBER: 03530425 BUSINESS ADDRESS: STREET 1: 1500 HARBOR BLVD CITY: WEEHAWKEN STATE: NJ ZIP: 07087 BUSINESS PHONE: 2018653800 MAIL ADDRESS: STREET 1: 1500 HARBOR BLVD CITY: WEEHAWKEN STATE: NJ ZIP: 07087 FORMER COMPANY: FORMER CONFORMED NAME: HORN & HARDART CO /NV/ DATE OF NAME CHANGE: 19920703 8-K 1 y83001e8vk.txt FORM 8-K 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): JANUARY 29, 2003 ---------------- HANOVER DIRECT, INC. -------------------------------------------------- (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) 1-12082 ------------------------ (COMMISSION FILE NUMBER) DELAWARE 13-0853260 ----------------------------------- ---------------------- (STATE OR OTHER JURISDICTION (I.R.S. EMPLOYER OF INCORPORATION) IDENTIFICATION NUMBER) 115 RIVER ROAD, BUILDING 10 EDGEWATER, NEW JERSEY 07020 ----------------------------------- -------------- (ADDRESS OF PRINCIPAL (ZIP CODE) EXECUTIVE OFFICES) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (201) 863-7300 -------------- ------------------------------------------------------------------------------- (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) ITEM 5. OTHER EVENTS. On January 29, 2003, Hanover Direct, Inc. (the "Company") issued a press release announcing unaudited revenue results for the fiscal year ended December 28, 2002 and the expansion of its brand offerings with Amazon.com during the first quarter of 2003. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits. Exhibit 20.1 - Press Release dated January 29, 2003 of the Company. 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. HANOVER DIRECT, INC. ----------------------------------- (Registrant) January 29, 2003 By: /s/ Edward M. Lambert ----------------------------------- Name: Edward M. Lambert Title: Executive Vice President and Chief Financial Officer EX-20.1 3 y83001exv20w1.txt PRESS RELEASE Exhibit 20.1 [HANOVER DIRECT LOGO] FOR IMMEDIATE RELEASE CONTACT: Hanover Direct, Inc The MWW Group Edward M. Lambert Rich Tauberman E.V.P & Chief Financial Officer Tel: (201) 507-9500 Tel: (201) 272-3325 HANOVER DIRECT ANNOUNCES 2002 GROWTH OF 30% IN INTERNET SALES OF CONTINUING BUSINESSES. ADDS TWO BRANDS TO AMAZON.COM APPAREL & ACCESSORIES STORE. EDGEWATER, NJ, January 29, 2003 - Hanover Direct, Inc. today announced unaudited revenue results for the fiscal year ended December 28, 2002. Net sales including postage and handling through the Internet improved to $87.3 million, an increase of $20.4 million or 30.4% over Internet sales in the prior fiscal year excluding sales from the Improvements division that was sold on June 29, 2001. "We are very pleased to see the tremendous growth of our Internet sales as a strong complement to the restructuring of our catalog sales," said Thomas C. Shull, Hanover Direct's Chairman and Chief Executive Officer. Internet sales for Hanover Direct have now reached 20.3% of Brand Sales (total revenues less third-party fulfillment sales and membership programs). Net revenues for Hanover Direct during the fiscal year ended December 28, 2002 were $457.3 million, a decrease of $74.9 million or 14.1% from fiscal year 2001. This decrease was due in part to the sale of the Improvements business on June 29, 2001, which accounted for $34.1 million of the reduction. The discontinuance of the Domestications Kitchen & Garden, Kitchen & Home, Encore and Turiya catalogs contributed an additional $6.4 million to the reduction. Revenues for continuing businesses in fiscal year 2002 decreased by $34.4 million or 7.0%. "Overall circulation for our continuing businesses decreased by 9.6% last year and almost all of the decrease in our continuing revenue stems from our efforts to reduce unprofitable circulation," said Shull. "This reduction in unprofitable circulation has been a key contributing factor to our improving operating results, which for the first three quarters of 2002 were the best since 1994." Hanover Direct also announced the expansion of its brand offerings with Amazon.com. Gump's Jewelry and Company Kids Apparel will join Silhouettes, International Male, and Undergear within Amazon.com's Apparel & Accessories store in the first quarter of 2003. "We are pleased to include apparel and jewelry merchandise from these marquis brands," said Shull. "Since launch in early-November, sales through Amazon.com's Apparel & Accessories site accounted for approximately 12% of our internet sales for the listed brands. We are pleased with that start and look forward to continuing our internet growth, in part, through our participation with Amazon.com." Hanover Direct expects to release its full operating results for the 2002 fiscal year on March 21, 2003. ABOUT HANOVER DIRECT, INC. Hanover Direct, Inc. (AMEX: HNV) and its business units provide quality, branded merchandise through a portfolio of catalogs and e-commerce platforms to consumers, as well as a comprehensive range of Internet, e-commerce, and fulfillment services to businesses. The Company's catalog and Internet portfolio of home fashions, apparel and gift brands include Domestications, The Company Store, Company Kids, Silhouettes, International Male, Scandia Down, and Gump's By Mail. The Company owns Gump's, a retail store based in San Francisco. Each brand can be accessed on the Internet individually by name. Keystone Internet Services, LLC (www.keystoneinternet.com), the Company's third party fulfillment operation, also provides the logistical, IT and fulfillment needs of the Company's catalogs and web sites. Information on Hanover Direct, including each of its subsidiaries, can be accessed on the Internet at www.hanoverdirect.com. ================================================================================ -----END PRIVACY-ENHANCED MESSAGE-----