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): MAY 27, 1994
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(MAY 27, 1994)
AMES DEPARTMENT STORES, INC.
(Exact Name of Registrant As Specified In Its Charter)
DELAWARE
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(State Or Other Jurisdiction Of Incorporation)
1-5380 04-2269444
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(Commission File Number) (IRS Employer Identification No.)
2418 MAIN STREET; ROCKY HILL, CONNECTICUT 06067-0801
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(Address Of Principal Executive Offices) (Zip Code)
(203) 257-2000
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(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
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(Former Name Or Former Address, If Changed Since Last Report)
Exhibit Index on Page 4
Page 1 of 8 (Including Exhibit)
ITEM 5: OTHER EVENTS
Beginning on May 27, 1994, Ames Department Stores, Inc. ("Ames" or
the "Company") will distribute to its banks and other lenders,
principal trade vendors and factors, summaries of its revised
financial plan (referred to herein as the "Revised Plan") for the
fiscal year ending January 28, 1995 ("Fiscal 1995"). The Revised
Plan is attached hereto as Exhibit 20 and is incorporated by
reference herein. The Revised Plan supersedes, in its entirety, the
summary financial plan for Fiscal 1995 filed on Form 8-K dated
February 17, 1994. The revisions contained in the Revised Plan are
primarily a consequence of the Company's new, three-year $300 million
revolving credit facility (Note 6 to the Consolidated Financial
Statements included in the Company's Form 10-K for the fiscal year
ended January 29, 1994), the Wertheim settlement (Note 11 to the
January 29, 1994 Consolidated Financial Statements), an expected
non-cash income tax provision (Note 9 to the January 29, 1994
Consolidated Financial Statements), certain gains on disposition of
properties, and stock appreciation rights (SARs) expense accruals.
The net effect of all of the above adjustments resulted in an
immaterial change to the projected annual net income as presented in
the Form 8-K dated February 17, 1994. The Revised Plan does not
contain any updates to the original projections for the actual
year-to-date sales, gross margin and other normal operating results
incurred. The Company believes that the effects of any such updates
would result in immaterial changes in the Revised Plan.
Ames is distributing the Revised Plan to its banks and other lenders,
principal trade vendors and factors to facilitate their credit
analyses. The Revised Plan SHOULD NOT BE RELIED UPON FOR ANY OTHER
PURPOSE and should be read in conjunction with the Company's January
29, 1994 Form 10-K and the Company's Form 10-Q to be filed for the
first quarter ended April 30, 1994. The Revised Plan is being
reported publicly solely because it is being distributed to a large
number of the Company's vendors for purposes of their credit
analyses. Although Ames is publicly reporting the Revised Plan and
expects to continue reporting its monthly results during Fiscal 1995,
Ames does not believe it is obligated to provide such information
indefinitely, other than as required by applicable regulations, and
may cease making such disclosures and updates at any time. Moreover,
Ames does not believe that it is obligated to update the Revised Plan
to reflect subsequent events or developments.
The Revised Plan was not prepared with a view toward compliance with
the guidelines established by the American Institute of Certified
Public Accountants or the rules and regulations of the Securities and
Exchange Commission regarding financial projections. While presented
with numerical specificity, the Revised Plan is based upon a variety
of assumptions that may not be realized and is subject to significant
business, economic and competitive uncertainties and contingencies,
many of which are beyond the control of Ames. Consequently, the
Revised Plan should not be regarded as a representation or warranty
by Ames, or any other person, that the forecasts contained therein
will be realized. Actual results may vary materially from those
presented in the Revised Plan.
Page 2 of 8
ITEM 7: FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
Exhibit: 20 Fiscal 1995 Revised Summary Financial Plan
Page 3 of 8
INDEX TO EXHIBITS
EXHIBIT NO. EXHIBIT PAGE NO.
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20 Fiscal 1995 Revised Summary Financial Plan 6
Page 4 of 8
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 thereunto duly authorized.
AMES DEPARTMENT STORES, INC.
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Registrant
Dated: May 27, 1994 By: /S/ PETER THORNER
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Peter Thorner
President, Chief Operating
Officer and Director
Dated: May 27, 1994 By: /S/ WILLIAM C. NAJDECKI
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William C. Najdecki
Senior Vice President,
Chief Accounting Officer
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