Nautica Enterprises, Inc. (Nasdaq:NAUT) said that it has received notice that a group called Barington Companies intends to seek three Board seats at Nautica Enterprises' Annual Meeting scheduled for July 8, 2003. The Company stated that its Board of Directors and outside advisors are reviewing the request for Board seats and related proposals.
The Company further stated, ''We do not know who Barington is, what its qualifications are, what its true agenda is, or whether it has any understanding of the apparel industry. Nevertheless, after due consideration, the Company will advise its shareholders of its position in this matter.''
Nautica Enterprises, Inc. (Nasdaq: NAUT), through its subsidiaries, designs, sources, markets and distributes apparel under the following
brands: Nautica; Nautica Competition; Nautica Jeans Company; Earl Jean; John Varvatos; E. Magrath; and Byron Nelson. For more information about our Company, please visit our website at www.nautica.com.
CONTACT: Nautica Enterprises, Inc.
Wayne A. Marino, Senior Vice President, Chief Financial
Officer, (212) 541-5757