Barry R G 8-K R.G. BARRY/DEARFOAMS LOGS STRONG HOLIDAY PERFORMANCE Accessories Footwear Marketer Offers Positive Full Year 2009 Outlook

EXHIBIT 99

FOR IMMEDIATE RELEASE

R.G. BARRY/DEARFOAMS LOGS STRONG HOLIDAY PERFORMANCE
Accessories Footwear Marketer Offers Positive Full Year 2009 Outlook

PICKERINGTON, Ohio— Friday, January 30, 2009 — Accessory footwear marketerR.G. Barry Corporation (Nasdaq:DFZ)today reported a 48.2 percent increase in net earnings on a 26.7 percent increase in net sales for its second quarter, ended December 27, 2008.

For the second quarter, which included the 2008 holiday shopping period, the Company reported:

• Net earnings of $6.1 million or $0.57 per basic share and $0.56 per diluted share compared to $4.1 million, or $0.39 per basic share and $0.38 per diluted share, in the second quarter of fiscal 2008;

• Net sales of $48.9 million compared to $38.6 million reported for the corresponding period of fiscal 2008;

• Gross profit as a percent of sales in the quarter was 39.5 percent versus 40.8 percent in the comparable quarter of fiscal 2008; and

• Selling, general and administrative expenses of $9.7 million, a 3.5 percent increase over the equivalent period of fiscal 2008, which included $336,000 in bad debt related to customer bankruptcy and liquidation actions.

For the first half, the Company reported:

• Net earnings of $7.2 million, or $0.67 per basic and diluted share, versus net earnings of $7.8 million, or $0.75 per basic share and $0.74 per diluted share, in the comparable period one year ago;

• Net sales rose 5.4 percent to $74.5 million versus $70.7 million in the first half one year ago;

• Gross profit as a percent of sales at 39.5 percent compared to 42.2 percent in the comparable period of fiscal 2008; and

• Selling, general and administrative expenses of $18.3 million versus $17.6 million in the equivalent period last year.

The Company’s balance sheet also reflects growing financial health.

• Cash and short-term investments increased to $27.9 million, up $3.7 million from one year ago.

• Year-over-year inventory levels were up approximately 3.5 percent at $14.9 million; and

• Net shareholders’ equity increased to $53.6 million from $44.1 million one year ago.

Management Comments

“Considering the very difficult and highly promotional 2008 retail environment, our second quarter performance was exceptionally good,” said Greg Tunney, President and Chief Executive Officer.

“Footwear consumer staples such as slippers are historically viewed as attractive, affordable gifts, even when economic times are tough. Based upon our brands’ healthy performances across many retail channels during Christmas 2008, that premise remains valid.

“The impact from shifts in the timing of some holiday shipments to retailers that negatively influenced our first quarter was, as expected, reversed in the second quarter. We knew that margins were going to be tough in fiscal 2009 and took actions with our suppliers and customers to address this issue long-term.

“We are continuing our search for category-appropriate acquisitions that can add meaningfully to our top line, are accretive to earnings and can further balance out the seasonal and demographic aspects of our business model. We are seeing a growing number of opportunities that make sense from both a business and fiscal perspective,” he said.

FY2009 Performance

“Entering the second half, we remain very confident about our ability to once again produce top quartile results as measured against our peers in revenue growth, inventory productivity, expense management and earnings. We cannot, however, ignore the potential influence of the rapidly evolving economic environment on our business and on our ability to provide specific, meaningful guidance. Cautious retailers in all classes of trade are delaying and reducing orders across all categories in an effort to limit their on-hand inventory and exposure. The continuing loss of retail floor space due to downsizings, bankruptcies and liquidations is being felt by all suppliers, including R.G. Barry. Economic pressures continue to cast a long shadow over every link in the global supply chain making what is reality today unrealistic tomorrow. We are confident that despite these uncertainties we can continue to achieve the high levels of performance necessary to consistently be among our category’s top performers,” Mr. Tunney concluded.

Conference Call/Webcast Today

R.G. Barry Corporation senior management will conduct a conference call for all interested parties at 11:00 a.m. EST today. Management will discuss the Company’s performance, its plans for the future and will accept questions from participants. The conference call will available at (888) 530-7880 or (706) 634-1795 until five minutes before starting time. To listen live via the Internet, log on at <www.videonewswire.com/event.asp?id=54616>.

Replays of the call will be available approximately one-hour after its completion. The audio replay can be accessed through Friday, Feb. 6, 2009, by calling (800) 642-1687 or (706) 645-9291 and using passcode 79813532. A written transcript and audio replay of the call will be posted for 12 months at the Company’s Web site <www.rgbarry.com> under the “Investors/News Release” section.

About R.G. Barry Corporation

R.G. Barry Corporation, the Dearfoams® company, is one of the world’s leading developers and marketers of accessory footwear. Visit us online at <www.rgbarry.com> to learn more about our business.

Forward-Looking Statements

Some of the disclosures in this news release contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “could,” “should,” “anticipate,” “believe,” “estimate,” or words with similar meanings. Any statements that refer to projections of our future performance, anticipated trends in our business and other characterizations of future events or circumstances are forward-looking statements. These statements, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, are based upon our current plans and strategies and reflect our current assessment of the risks and uncertainties related to our business. These risks could include, but are not limited to, things such as: our continuing ability to source products from third-parties located outside North America; competitive cost pressures; the loss of retailer customers to competitors, consolidations, bankruptcies or liquidations; shifts in consumer preferences; the impact of the highly seasonal nature of our business upon our operations; inaccurate forecasting of consumer demand; difficulties liquidating excess inventory; disruption of our supply chain or distribution networks; and, our investment of excess cash in certificates of deposit and other non-auction rate marketable securities. You should read this press release carefully, because the forward-looking statements contained in it (1) discuss our future expectations; (2) contain projections of our future results of operations or of our future financial condition; or (3) state other “forward-looking” information. The risk factors described in this press release and in our filings with the Securities and Exchange Commission, in particular “Item 1A. Risk Factors” of Part I of our Annual Report on Form 10-K for the fiscal year ended June 28, 2008 (the “2008 Form 10-K”), give examples of the types of uncertainties that may cause actual performance to differ materially from the expectations we describe in our forward-looking statements. If the events described in “Item 1A. Risk Factors” of Part I of our 2008 Form 10-K occur, they could have a material adverse effect on our business, operating results and financial condition. You should also know that it is impossible to predict or identify all risks and uncertainties related to our business. Consequently, no one should consider any such list to be a complete set of all potential risks and uncertainties. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update any forward-looking statement to reflect circumstances or events that occur after the date on which the statement is made to reflect unanticipated events. Any further disclosures in our filings with the Securities and Exchange Commission should also be considered.

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Contact:
Roy Youst, Director Investor & Corp. Communications	614.729.7275
José G. Ibarra, Senior Vice President Finance/CFO	614.864.6400

—financial charts follow—

R.G. BARRY CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of dollars, except for per share data)

	Thirteen Weeks Ended									Twenty-six Weeks Ended
	(unaudited)			(unaudited)			% Increase			(unaudited)			(unaudited)			% Increase
	December 27, 2008			December 29, 2007			Decrease			December 27, 2008			December 29, 2007			Decrease
Net sales	$	48,853		$	38,555			26.7	%	$	74,482		$	70,685			5.4	%
Cost of Sales		29,569			22,813			29.6	%		45,038			40,884			10.2	%
Gross profit		19,284			15,742			22.5	%		29,444			29,801			-1.2	%
Gross profit (as percent of sales)		39.5	%		40.8	%					39.5	%		42.2	%
Selling, general and administrative expenses		9,668			9,340			3.5	%		18,256			17,605			3.7	%
Operating profit		9,616			6,402			50.2	%		11,188			12,196			-8.3	%
Other income		15			35			-57.1	%		15			50			-70.0	%
Interest income (expense), net		72			79			-8.9	%		217			178			21.9	%
Earnings, before income tax		9,703			6,516			48.9	%		11,420			12,424			-8.1	%
Income tax		3,653			2,434			50.1	%		4,265			4,576			-6.8	%
Net earnings	$	6,050		$	4,082			48.2	%	$	7,155		$	7,848			-8.8	%
Earnings per common share
Basic	$	0.57		$	0.39			46.2	%	$	0.67		$	0.75			-10.7	%
Diluted	$	0.56		$	0.38			47.4	%	$	0.67		$	0.74			-9.5	%
Average number of common shares outstanding
Basic		10,609			10,426						10,602			10,411
Diluted		10,712			10,640						10,717			10,664

CONSOLIDATED BALANCE SHEET
(in thousands of dollars)

	(unaudited)		(unaudited)		(audited)
	December 27, 2008		December 29, 2007		June 28, 2008
ASSETS
Cash & Short term investments	$	27,893	$	24,195	$	26,080
Accounts Receivable, net		17,056		10,305		12,653
Inventory		14,931		14,428		10,842
Prepaid expenses and other current assets		1,651		2,723		5,901
Total current assets		61,531		51,651		55,476
Net property, plant and equipment		3,789		3,095		3,149
Other assets		9,065		11,468		9,318
Total Assets	$	74,385	$	66,214	$	67,943
LIABILITIES & SHAREHOLDERS’ EQUITY
Short-term notes payable		2,290		2,278		2,284
Accounts payable		4,662		6,753		4,164
Other current liabilities		2,176		2,065		3,303
Total current liabilities		9,128		11,096		9,751
Long-term debt		140		233		187
Accrued retirement costs and other		11,556		10,828		11,976
Shareholders’ equity, net		53,561		44,057		46,029
Total liabilities & shareholders’ equity	$	74,385	$	66,214	$	67,943