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HARTMARX REPORTS SECOND QUARTER RESULTS

 CHICAGO, July 2 /PRNewswire/ -- Hartmarx Corp. today reported operating results for the second quarter and six months ended May 31, 1993.
 Sales in continuing Hartmarx operations were slightly ahead for both the quarter and six months. Hartmarx is currently composed of three established operating groups (the Men's Apparel Group, Kuppenheimer and Barrie Pace catalog) and one new business (International Women's Apparel). Collectively, earnings of these operations (before interest and corporate expense) were positive in both the second quarter and the first half. Consolidated revenues were $171,907,000 for the second quarter and $358,838,000, respectively, which included results of Hartmarx Specialty Stores, Inc. sold in September 1992 and the Old Mill store group formerly operated by Country Miss. The second quarter pre- tax loss was $3,480,000 compared to a loss of $8,725,000 in 1992. For the six months, the pre-tax loss was $4,715,000 compared to a loss of $18,870,000 in 1992. As a tax benefit was not recognized in the current year, the net loss was $3,480,000 or $.11 per share in the second quarter and $4,715,000 or $.15 per share for the six months. Per share results for 1993 also reflect 5.7 million additional shares issued in connection with the company's Dec. 30, 1992 equity sale. The 1992 net loss was $5,670,000 or $.22 for the second quarter and $12,265,000 or $.48 per share for the six months, after considering tax benefits of $3,055,000 and $6,605,000, respectively.
 Elbert O. Hand, chairman and chief executive officer of Hartmarx, commented: "The Men's Apparel Group, Kuppenheimer and Barrie Pace operations were each profitable in both the second quarter and first half. Advance orders for our tailored clothing brands for the second half of 1993 remain strong. We expect continued growth in our golfwear programs and Barrie Pace catalog operations. The new marketing initiatives at Kuppenheimer correspond with improved recent sales performance. The start-up efforts at the new International Women's Apparel are focused on establishing their branded products in a difficult womenswear market.
 "Debt reduction continues to progress ahead of plan. At May 31, 1993 total outstanding debt was $226 million compared to $315 million at Nov. 30, 1992. This $89 million debt reduction was achieved from the equity sale to Traco International, continuing programs by our operating units to achieve working capital efficiencies and from selling non-contributing assets. As of June 30, unused credit lines available to the company totaled $119 million.
 "While the near term outlook is tempered by recent reports of soft retail sales and lower consumer confidence levels, we are confident that the strategic direction for Hartmarx is the right one to restore profitability."
 Hartmarx, headquartered in Chicago, is the nation's leading manufacturer and wholesaler of men's and women's apparel.
 Three months ended
 May 31, 1993 1992
 Net sales $171,907,000 $273,584,000
 Loss before taxes (3,480,000) (8,725,000)
 Tax benefit --- (3,055,000)
 Net loss (3,480,000) (5,670,000)
 Loss per share (.11) (.22)
 Average common shares and
 equivalents outstanding 31,770,000 25,583,000
 SIX MONTHS ENDED May 31, 1993 May 31, 1992
 Net sales $358,838,000 $578,324,000
 Loss before taxes (4,715,000) (18,870,000)
 Tax benefit --- (6,605,000)
 Net loss (4,715,000) (12,265,000)
 Loss per share (.15) (.48)
 Average common shares and
 equivalents outstanding 30,788,000 25,473,000
 -0- 7/2/93
 /CONTACT: Frank Brenner of Hartmarx, 312-372-6300/
 (HMX)


CO: Hartmarx Corp. ST: Illinois IN: TEX SU: ERN

MP-MG -- NY024 -- 8198 07/02/93 14:17 EDT
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Date:Jul 2, 1993
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