Hartmarx Announces New 3 Million Share Repurchase Program
18 Octubre 2007 - 3:31PM
PR Newswire (US)
CHICAGO, Oct. 18 /PRNewswire-FirstCall/ -- Hartmarx Corporation
(NYSE:HMX) today announced that its Board of Directors has
authorized a new share repurchase program to acquire up to 3
million of the Company's common shares. Repurchases will be made
from time-to-time in the open market or in privately negotiated
transactions based on prevailing market conditions and other
factors. At September 30, 2007, there were 36,701,750 common shares
outstanding. This authorization is in addition to the 2 million
shares repurchase authorization approved by the Board of Directors
in October 2005. As of October 18, 2007, the Company has purchased
an aggregate 1,941,732 shares and 58,268 shares remain to be
purchased under the 2005 authorization. Hartmarx produces and
markets business, casual and golf apparel under its own brands,
including Hart Schaffner Marx, Hickey-Freeman, Palm Beach, Coppley,
Cambridge, Keithmoor, Monarchy, Manchester Escapes, Society Brand,
Racquet Club, Naturalife, Pusser's of the West Indies, Royal,
Brannoch, Sansabelt, Exclusively Misook, Barrie Pace, Eye,
Christopher Blue, Pine IV, Worn, One Girl Who . . ., Zooey by alice
heller and b.chyll. 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,
Burberry men's tailored clothing, Ted Baker, Bobby Jones, Jack
Nicklaus, Claiborne, DKNY Donna Karan New York, Pierre Cardin,
Perry Ellis, Lyle & Scott, Golden Bear, Jag and Starington. 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. 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 Securities and Exchange Commission 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: Eliza Tineo,
+1-212-826-6635, for Hartmarx Corporation Web site:
http://www.hartmarx.com/
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