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KELLWOOD SETS NEW RECORD HIGH FOR QUARTERLY SALES AND EARNINGS; SALES FOR THE QUARTER UP 21 PCT, EARNINGS UP 44 PCT; SIX-MONTH FIGURES ALSO COMPANY RECORD; COMPANY ESTABLISHES DIVIDEND REINVESTMENT PROGRAM; REGULAR QUARTERLY DIVIDEND DECLARED

 ST. LOUIS, Nov. 23 /PRNewswire/ -- Kellwood Company (NYSE: KWD) announced record sales and earnings today for both the second quarter and six-month period ended Oct. 31, 1993, according to William J. McKenna, chairman, president and chief executive officer. "Quarterly results set a new record high for any three-month period in Kellwood's history," stated McKenna.
 Sales for the quarter rose 21 percent to $342,058,000 from $281,830,000 for the same period last year. Net earnings climbed 44 percent to $10,706,000, or $.75 per share, from $7,432,000, or $.53 per share, for the comparable quarter.
 "This is the 11th consecutive quarter Kellwood has achieved double-digit sales growth," said McKenna. "Growth continues to be particularly strong in the Branded businesses portfolio and across all channels of distribution. Sales from the Branded Portfolio accounted for 66 percent of total volume, moving Kellwood closer to its targeted goal of Branded being 75 percent of all Company sales.
 Earnings continue to improve as the result of higher sales and a shift in the sales mix to branded products, as well as improved product sourcing and operating efficiencies.
 Six-month sales increased 20 percent to $640,538,000 from $532,761,000. Net earnings grew 30 percent to $20,614,000, or $1.45 per share, from $15,868,000, or $1.13 per share.
 "Going forward, we are continuing to intensify our existing marketing efforts while exploiting new marketing opportunities. Several of our business units have expanded their marketing and merchandising activities in Mexico and Canada. In addition, several of our divisions will be introducing product offerings on television home shopping channels."
 "As we move into the second half of our fiscal year, business activity appears to be strong. Our strategic plan is working, and we continue to search for viable acquisition candidates to expand and complement our existing portfolio of companies."
 At the May board meeting, Kellwood established a dividend reinvestment and stock purchase plan which becomes effective Dec. 17, 1993 with the quarterly dividend payment. Under the plan, 500,000 authorized and unissued shares of common stock have been reserved for issuance.
 Shareowners can automatically reinvest all or part of their cash dividends in additional shares of Kellwood common stock. All fees, other than those incurred upon sale of shares from the plan account, are paid by Kellwood. An additional feature of the Kellwood plan permits other investors who are not shareowners to participate by making an initial cash payment of $100. Society National Bank of Cleveland, Ohio, manages the plan for Kellwood.
 The Board of Directors declared a regular quarterly dividend of $.20 per common share, payable Dec. 17, 1993, to shareholders of record Dec. 3, 1993.
 Kellwood Company (NYSE) is an international manufacturer, merchandiser and marketer of apparel, home fashions and recreational camping goods.
 KELLWOOD COMPANY AND SUBSIDIARIES
 Earnings Summary
 (unaudited)
 For the periods Three Months Six Months
 ended Oct. 31, 1993 1992 1993 1992
 Net sales $342,058,000 $281,830,000 $640,538,000 $532,761,000
 Net earnings 10,706,000 7,432,000 20,614,000 15,868,000
 Weighted average
 shares outstanding
 Primary 13,879,000 13,764,000 13,857,000 13,748,000
 Fully diluted 14,232,000 14,060,000 14,211,000 14,045,000
 Earnings per share:
 Primary $.77 $.54 $1.49 $1.15
 Fully diluted .75 .53 1.45 1.13
 Consolidated Balance Sheet
 (Unaudited, amounts in thousands)
 Oct. 31, 1993 1992
 Assets
 Current Assets:
 Cash and time deposits $14,738 $33,701
 Receivables, net 194,608 157,410
 Inventories 179,950 192,823
 Prepaid taxes and expenses 17,850 16,668
 Total Current Assets 407,146 400,602
 Property, Plant and Equipment, Net 67,489 65,584
 Intangible Assets, Net 108,506 62,889
 Other Assets 49,028 45,876
 Total Assets $632,169 $574,951
 Liabilities and Shareowners' Equity
 Current Liabilities
 Current portion of long-term debt $7,061 $8,674
 Notes payable 55,953 44,086
 Accounts payable 57,326 62,760
 Accrued expenses 61,938 56,998
 Total Current Liabilities 182,278 172,518
 Long-Term Debt 124,238 106,440
 Deferred Income Taxes and Other 28,767 23,831
 Shareowners' Equity 296,886 272,162
 Total Liabilities and Shareowners'
 Equity $632,169 $574,951
 Consolidated Statement of Earnings
 (Unaudited, amounts in thousands except per share data)
 For the periods Three Months Six Months
 ended Oct. 31, 1993 1992 1993 1992
 Net Sales $342,058 $281,830 $640,538 $532,761
 Costs and Expenses
 Cost of products sold 269,873 228,668 506,024 429,855
 Selling, general and
 administrative expenses 45,893 34,904 87,421 68,020
 Amortization of intangible
 assets 3,462 2,115 6,532 4,223
 Gain on disposal of assets -- -- (3,047) (3,391)
 Interest expense 4,253 3,332 8,215 6,474
 Interest income and other,
 net (209) (721) (771) (1,288)
 Earnings Before Income
 Taxes 18,786 13,532 36,164 28,868
 Income Taxes 8,080 6,100 15,550 13,000
 Net Earnings $10,706 $7,432 $20,614 $15,868
 Weighted Average Shares
 Outstanding
 Primary 13,879 13,764 13,857 13,748
 Fully diluted 14,232 14,060 14,211 14,045
 Earnings per Share:
 Primary $.77 $.54 $1.49 $1.15
 Fully diluted .75 .53 1.45 1.13
 NOTES:
 1. All of the capital stock of Goodman Knitting Co., Inc., A.J. Brandon, Inc., and California Ivy, Inc. was purchased for cash on July 1, 1993, Dec. 30, 1992, and July 10, 1992, respectively. All three companies design and market branded apparel. The consolidated statement of earnings includes the results of the operations of Goodman Knitting Co., Inc., A.J. Brandon, Inc., and California Ivy, Inc., from the dates of the acquisition.
 2. The gain on disposal of assets resulted from the sale of certain excess export quota rights.
 -0- 11/23/93
 /Contact: Donna B. Weaver, 314-576-3265, or fax, 314-576-3462, or (financial) James C. Jacobsen, 314-576-3429, or fax, 314-576-3439, both of Kellwood/
 (KWD)


CO: Kellwood Company ST: Missouri IN: TEX SU: ERN DIV

LG-TW -- NY051 -- 7310 11/23/93 13:41 EST
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