1 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) August 25, 1994 BROWN GROUP, INC. (Exact name of registrant as specified in its charter) New York (State or other jurisdiction of incorporation or organization) 1-2191 43-0197190 (Commission File Number) (IRS Employer Identification Number) 8300 Maryland Avenue St. Louis, Missouri 63105 (Address of principal executive offices) (Zip Code) (314) 854-4000 (Registrant's telephone number, including area code) NOT APPLICABLE (Former name, former address and former fiscal year, if changed since last report) Page 1 of 2 2 Item 5. Other Events On August 25, 1994, Brown Group, Inc. announced an agreement to sell the net assets of its Cloth World chain of fabric stores to Fabri-Centers of America, Inc. for $62 million in cash, subject to final balance sheet adjustments. The Company does not anticipate any significant gain or loss from the sale. Cloth World operates 343 stores selling fabrics and sewing accessories. It was acquired by Brown Group in 1970 when it had 14 stores. The transaction is expected to be completed in early October. Cloth World had sales of $224.1 million in fiscal 1993 and $103.5 million in the first six months of fiscal 1994. Cloth World had operating profit of $3.9 million in fiscal 1993 and $1.1 million in the first six months of fiscal 1994. SIGNATURE 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 hereunto duly authorized. BROWN GROUP, INC. (Registrant) By /s/ H. E. Rich Executive Vice President and Chief Financial Officer Date: September 1, 1994 Page 2 of 2