Rule 424(b)(3) File No. 333-32429 PROSPECTUS SUPPLEMENT DATED SEPTEMBER 4, 1998, TO PROSPECTUS DATED JULY 24, 1998 10,109,290 SHARES ITHACA INDUSTRIES, INC. COMMON STOCK (PAR VALUE $.01 PER SHARE) This Prospectus Supplement is intended to be read in conjunction with the Prospectus dated July 24, 1998. --------------------- Attached hereto is the Current Report on Form 8-K for Ithaca Industries, Inc. (the "Company"). --------------------- THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. --------------------- The date of this Supplement is September 4, 1998 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): September 3, 1998 ITHACA INDUSTRIES, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) Delaware 000-22385 56-1385842 - -------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) Highway 268 West, P.O. Box 620, Wilkesboro, North Carolina 28697 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (336) 667-5231 2 ITEM 5. OTHER EVENTS On September 3, 1998, Ithaca Industries, Inc. ("Ithaca" or the "Company") issued a press release reporting its results for the fiscal 1999 second quarter ended August 1, 1998. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (c) EXHIBITS Exhibit Number Description -------------- ----------- 99 Press Release of Ithaca Industries, Inc. dated September 3, 1998. 3 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. ITHACA INDUSTRIES, INC. Date: September 4, 1998 By: /s/ Richard P. Thrush ------------------------- Richard P. Thrush Senior Vice President - Finance and Administration, Chief Accounting and Principal Financial Officer 4 EXHIBIT INDEX Exhibit Number Description -------------- ----------- 99 Press Release of Ithaca Industries, Inc. dated September 3, 1998.