SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C. 20549


                                Form 10-Q


               QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)
                  OF THE SECURITIES EXCHANGE ACT OF 1934


For the quarter ended June 30, 2001      Commission File No 1-4506


                            GARAN, INCORPORATED


        (Exact name of registrant as specified in its charter)


        VIRGINIA                                       13-5665557
(State of Incorporation)               (I.R.S. Employer Identification No.)


     350 Fifth Avenue, New York, NY                     10118
(Address of principal executive offices)              (Zip Code)


Registrant's telephone number, including area code: (212) 563-2000


Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by section 13 or 15 (d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period than the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90
days.
                    YES   [X]               NO  [ ]


Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the close of the period covered by this
report.

Class                                   Outstanding June 30, 2001

Common Stock (no par value)             4,489,087 shares

<PAGE>



                      GARAN, INCORPORATED AND SUBSIDIARIES
                                   FORM 10-Q

                                     INDEX

PART I.  FINANCIAL INFORMATION                                  Page #

Item 1.   Consolidated Statements of Earnings
          Three Months Ended June 30, 2001 and 2000                3

          Consolidated Statements of Earnings
          Nine Months Ended June 30, 2001 and 2000                 4

          Consolidated Balance Sheets
          June 30, 2001 and September 30, 2000                     5

          Consolidated Statements of Cash Flows
          Nine Months ended June 30, 2001 and 2000                 6

          Notes to Consolidated Financial Statements               7

Item 2.   Management's Discussion and Analysis of
           Financial Condition and Results of Operations           8

Item 3.   Qualitative and Quantitative Disclosure about
           Market Risk                                            10

PART II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K                        11

Signatures                                                        12

EXHIBITS

    3.1   By-laws of the Company Amended and Restated as of
          August 13, 2001.
    10.1  Employment and Consulting Agreement between the Company
          and Seymour Lichtenstein amended and restated as of
          May 1, 2001.
    10.2  Employment Agreement between the Company and Jerald
          Kamiel amended and restated as of May 1, 2001.
    10.3  Employment Agreement between the Company and William
          J. Wilson amended and restated as of May 1, 2001.
    10.4  Employment Agreement between the Company and Rodney
          Faver amended and restated as of May 1, 2001.


<PAGE>

                       PART I. - FINANCIAL INFORMATION

                     GARAN, INCORPORATED AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF EARNINGS
                                  (UNAUDITED)

                                                THREE MONTHS ENDED
                                                6/30/01        6/30/00
                                             -----------     -----------
Net sales                                    $55,176,000     $47,941,000

Cost of sales                                 39,259,000      35,900,000
                                             -----------     -----------
   Gross margin on sales                      15,917,000      12,041,000

Selling and administrative expenses            8,206,000       7,258,000

Interest on capitalized leases                    19,000          29,000

Interest income                                 (539,000)       (519,000)
                                             -----------     -----------
    Earnings before provision
        for income taxes                       8,231,000       5,273,000

Provision for income taxes                     3,375,000       2,188,000
                                              -----------     -----------
Net earnings                                 $ 4,856,000     $ 3,085,000
                                             ===========     ===========

Earnings per share data (see Note 2):

  Earnings per share - Basic                $       1.00   $        0.60
                     - Diluted              $        .98   $        0.60

  Average common shares outstanding - Basic    5,015,000       5,264,000
                                    - Diluted  5,051,000       5,280,000

Dividends paid per share                    $       0.25    $       0.25


<PAGE>


                     GARAN, INCORPORATED AND SUBSIDIARIES

                     CONSOLIDATED STATEMENTS OF EARNINGS
                                  (UNAUDITED)

                                                  NINE MONTHS ENDED
                                                6/30/01        6/30/00
                                             -----------     -----------
Net sales                                   $166,914,000    $155,954,000

Cost of sales                                121,028,000     119,108,000
                                             -----------     -----------
   Gross margin on sales                      45,886,000      36,846,000

Selling and administrative expenses           22,986,000      21,228,000

Interest on capitalized leases                    69,000          75,000

Interest income                               (1,697,000)     (1,902,000)
                                             -----------     -----------
    Earnings before provision
        for income taxes                      24,528,000      17,445,000

Provision for income taxes                    10,057,000       7,239,000
                                             -----------     -----------
Net earnings                                 $14,471,000     $10,206,000
                                             ===========     ===========

Earnings per share data (see Note 2):

   Earnings per share - Basic                $      2.89     $      1.94
                      - Diluted              $      2.86     $      1.93

   Average common shares outstanding- Basic    5,015,000       5,264,000
                                    - Diluted  5,051,000       5,280,000

Dividends paid per share                     $      1.55     $      1.55

<PAGE>
                     GARAN, INCORPORATED AND SUBSIDIARIES
                         CONSOLIDATED BALANCE SHEETS
                                 (UNAUDITED)
                                               06/30/01         9/30/00
ASSETS                                      -------------    ------------
Current Assets:
   Cash and cash equivalents                $   9,134,000    $ 14,580,000
   U.S. Government securities - short-term                      6,436,000
   Accounts receivable, less estimated
     uncollectibles of $493,000 at
     6/30/01 and $512,000 at 9/30/00           42,796,000      53,732,000
   Inventories                                 66,115,000      47,757,000
   Other current assets                         6,188,000       6,475,000
                                              -----------     -----------
   Total current assets                       124,233,000     128,980,000

U.S. Government Securities - Long-term          3,548,000       7,695,000
Property, plant and equipment, less
  accumulated depreciation and amortization    17,022,000      18,878,000
Other assets                                    8,234,000       8,039,000
                                             ------------    ------------
   TOTAL ASSETS                             $ 153,037,000   $ 163,592,000
                                            =============   =============
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
   Accounts payable                         $  11,483,000   $  10,417,000
   Accrued liabilities                         17,763,000      21,263,000
   Federal and state income taxes payable       4,367,000       4,369,000
   Current portion of capitalized leases          220,000         240,000
                                             ------------    ------------
   Total current liabilities                   33,833,000      36,289,000
                                             ------------    ------------
Capitalized lease obligations, net of
 current portion                                1,910,000       1,910,000
                                             ------------    ------------
Deferred income taxes                           1,802,000       1,903,000
                                             ------------    ------------
Shareholders' Equity:
 Preferred stock ($10 par value) 500,000
     shares authorized; none issued
 Common stock (no par value) 15,000,000
     shares authorized; issued 4,489,087
     at 6/30/01 and 5,072,337 at 9/30/00        2,245,000       2,536,000
  Additional paid-in-capital                    5,779,000       6,327,000
  Unamortized value of restricted stock                        (3,073,000)
  Retained earnings                           107,468,000     117,700,000
                                             ------------    ------------
    Total shareholders' equity                115,492,000     123,490,000
                                             ------------    ------------
    TOTAL LIABILITIES AND SHAREHOLDERS'
     EQUITY                                 $ 153,037,000   $ 163,592,000
                                            =============   =============
<PAGE>


                    GARAN, INCORPORATED AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                                 (UNAUDITED)
                                                   NINE MONTHS ENDED
                                                6/30/01          6/30/00
Cash Flows From Operating Activities:       -------------    ------------
  Net earnings                              $  14,471,000   $  10,206,000
 Adjustments to reconcile to net cash
  provided by operating activities:
    Deferred compensation                       3,073,000         639,000
    Depreciation and amortization               5,252,000       3,678,000
    Deferred income taxes                        (101,000)       (160,000)
    Changes in assets and liabilities:
    U.S. Government securities - Short-term     6,436,000               0
    Accounts receivable                        10,936,000      20,390,000
    Inventories                               (18,358,000)    (28,534,000)
    Other current assets                          287,000        (251,000)
    Accounts payable                            1,066,000       1,932,000
    Accrued liabilities                        (3,500,000)     (1,625,000)
    Income taxes payable                           (2,000)     (4,475,000)
    Other assets                                 (195,000)     (1,052,000)
Net Cash Provided by Operating               ------------    ------------
  Activities                                   19,365,000         748,000
                                             ------------    ------------
Cash Flows From Investing Activities:
  Sale of U.S. Government securities -
    Long-term                                   7,710,000      17,926,000
  Purchase of U.S. Government securities -
    Long-term                                  (3,563,000)    (13,129,000)
  Additions to property, plant, and Equipment  (3,396,000)     (3,478,000)
                                             ------------    ------------
  Net Cash provided by Investing Activities       751,000       1,319,000
                                             ------------    ------------
Cash Flows From Financing Activities:
  Stock Repurchase                            (17,887,000)     (5,344,000)
  Payment of dividends                         (7,876,000)     (8,185,000)
  Repayment of capitalized lease obligations      (20,000)        (20,000)
  Proceeds from exercised stock options           221,000         274,000
                                             ------------    ------------
  Net Cash used for Financing Activities      (25,562,000)    (13,275,000)
                                             ------------    ------------
Net decrease in Cash and Cash Equivalents      (5,446,000)    (11,208,000)

Cash and Cash Equivalents At Beginning
  of Period                                    14,580,000      12,952,000
                                             ------------    ------------
Cash and Cash Equivalents At End of Period  $   9,134,000   $   1,744,000
                                             ============    ============
Supplemental cash flow Disclosures
  Cash Paid During The Period For:
    Interest                                $      69,000   $      75,000
    Income taxes                                9,745,000      11,660,000
                                             ============    ============
<PAGE>

                     GARAN, INCORPORATED AND SUBSIDIARIES

                 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               June 30, 2001
                                (UNAUDITED)
1.  In the opinion of management, all adjustments necessary for a fair
statement of the results of operations have been reflected.

2.  Basic and diluted earnings per share for the nine month periods ended
June 30, 2001, and 2000 are calculated on the basis of the weighted average
number of common shares outstanding during such nine month periods in
accordance with the provisions of the Statements of Financial Accounting
Standards No. 128 as follows:

                      2001                               2000
          ------------------------------   -------------------------------
            Income     Shares  Per Share      Income     Shares  Per Share
Basic EPS $14,471,000 5,015,000   $ 2.89   $10,206,000  5,264,000    $1.94
                               =========                         =========
Effect of
dilutive options         36,000                            16,000

          ---------------------            ----------------------
          $14,471,000 5,051,000   $ 2.86   $10,206,000  5,280,000    $1.93
          ==============================   ===============================

Basic and diluted earnings per share for the three month periods ended June
30, 2001, and 2000 are based on earnings per share for the nine month
periods ended June 30, 2001, and 2000 less earnings per share for the six
months ended March 31, 2001, and March 31, 2000, respectively.  The
weighted average number of common shares outstanding for the quarters ended
June 30, 2001, and 2000 were 4,885,000 and 5,154,000 respectively.

The difference in the weighted average number of common shares outstanding
between the three and nine-month periods ended June 30, 2001, was due to
the effect of the 596,250 share stock repurchase in June, 2001, and the
difference in the weighted average number of common shares outstanding
between the three and nine-month periods ended June 30, 2000, was due
to the effect of a 250,000 share stock repurchase in April, 2000.

3.  Inventories consist of the following:
                                               06/30/01        09/30/00
                                            -----------      -----------
Raw Materials                               $ 7,881,000      $ 8,338,000
Work in Process                               9,772,000        8,817,000
Finished Goods                               48,462,000       30,602,000
                                            -----------      -----------
                                            $66,115,000      $47,757,000
                                            ===========      ===========
<PAGE>
ITEM 2.
                      GARAN, INCORPORATED AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Some of the information presented in this Management's Discussion and
Analysis of Financial Condition and Results of Operations and elsewhere in
this report includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, that involve certain risks
and uncertainties.  Discussions containing such forward-looking statements
may be found in the material set forth below and in the Company's Annual
Report on Form 10-K for the fiscal year ended September 30, 2000, which is
incorporated by reference herein.  Without limiting the foregoing, the
words "believes," "anticipates," "plans," "expects," and similar
expressions are intended to identify forward-looking statements.  The
Company's actual results could differ materially from those anticipated in
such forward-looking statements as a result of certain factors including,
but not limited to, uncertainties regarding continued market acceptance of
the Company's products, competition, the Company's relationship with its
principal customer, and the consistent availability of raw materials and
risks associated with the Company's Central American operations, as well as
those identified in the incorporated report under the heading "Risk
Factors".  These forward-looking statements are made as of the date of the
incorporated report or this report, as the case may be, and the Company
assumes no obligation to update such forward-looking statements or to
update the reasons why actual results could differ materially from those
anticipated in such forward-looking statements.

Results of Operations -- Three and Nine-Month Periods Ended June 30, 2001,
and June 30, 2000:

Net Sales

Net sales for the three-month period ended June 30, 2001, were $55,176,000
compared to $47,941,000 for the same period last year.  Net sales for the
first nine months of fiscal 2001 were $166,914,000 compared to $155,954,000
for the same period last year.  Net earnings for the three-month period
were $4,856,000, or $1.00 per share, compared to $3,085,000, or $0.60 per
share, for the prior year.  Net earnings for the nine-month period were
$14,471,000, or $2.89 per share, compared to $10,206,000, or $1.94 per
share, for the prior year. The sales increase for the three and nine-month
periods was a result of increased units shipped primarily in the Company's
Childrenswear Division.

Gross Margin

Gross margin for the three months ended June 30, 2001, was $15,917,000, or
28.8% of net sales, compared to $12,041,000, or 25.1% of net sales, for the
<PAGE>
comparable period in fiscal 2000.  Gross margin for the nine months ended
June 30, 2001, was $45,886,000, or 27.5% of net sales, compared to
$36,846,000, or 23.6% of net sales, for the comparable period last year.
The gross margin increase in both periods was due to various factors
including (a) duty savings as a result of lower effective duty rates on a
portion of the Company's Caribbean Basin production, (b) lower costs of
production as a result of shifting more production offshore, (c) lower
costs associated with improved manufacturing efficiencies, and (d) product
mix changes.  The Company is a beneficiary of the Trade and Development Act
of 2000 wherein a portion of its garments produced in the Caribbean Basin
are imported free of duty subject to annual quotas.

Selling and administrative expenses for the three months ended June 30,
2001, were $8,206,000, or 14.9% of net sales, as compared to $7,258,000, or
15.1% of net sales, for the comparable period last year.  Selling and
administrative expenses for the nine months ended June 30, 2001, were
$22,986,000, or 13.8% of net sales, as compared to $21,228,000, or 13.6% of
net sales, for the comparable period last year.  The increase in selling
and administrative expenses was related to the increase in net sales, the
amortization of the compensation expense relating to the shares issued
pursuant to the Restricted Stock Plan which vested in the third quarter,
and the continued upgrade of computer systems.

Interest income for the three months ended June 30, 2001, increased to
$539,000 from $519,000 for the comparable period last year.  Interest
income for the nine months ended June 30, 2001, was $1,697,000 as compared
to $1,902,000 for the comparable period last year.  Interest income
fluctuates with changes in rates of return and the Company's level of
investment.

Financial Position, Capital Resources, and Liquidity - June 30, 2001, and
June 30, 2000:

On April 30, 2001, the Company's Board of Directors authorized an offer to
purchase up to 700,000 shares of Common Stock (including the associated
Common Stock Purchase Rights) at a purchase price not in excess of $30 nor
less than $26 per share.  The tender offer commenced on May 4, 2001, and
expired on June 6, 2001, and a total of 596,250 shares of Company Common
Stock were tendered to and purchased by the Company.  The purchase price
was $30 per share, and the total purchase price of $17,887,500 was paid by
the Company on June 11, 2001.

On April 26, 2001, the Company ended the restriction period and fully
vested the shares of Company Common Stock issued in May, 1999, pursuant to
the 1999 Restricted Stock Plan.

At June 30, 2001, working capital was $90,400,000, a decrease of $2,291,000
from working capital at September 30, 2000, of $92,691,000.  The decrease
reflects seasonal changes less the cash expended for the share repurchase
referred to above offset by the Company's net income for the period.  The
<PAGE>
effect of the repurchase on shareholders' equity, which declined to
$115,492,000 at June 30, 2001, from $123,490,000 at September 30, 2000, was
offset somewhat by amortization of the remaining unamortized value of the
restricted stock which vested on April 26, 2001.  Book value per share
increased to $25.73 at June 30, 2001, from $24.34 at September 30, 2000.

Accounts receivable were $42,796,000 at June 30, 2001, a decrease of
$10,936,000 over the balance at September 30, 2000.  Because the Company's
business is seasonal, the receivable balance should be compared to the
balance of $38,991,000 at June 30, 2000, rather than the September 30,
2000, year-end balance.  The increase related to the increased sales
volume.

Inventory increased to $66,115,000 from $47,757,000 at September 30, 2000.
Because the Company's business is seasonal, the inventory should be
compared to the inventory of $65,867,000 at June 30, 2000, rather than the
September 30, 2000, year-end balance.  The Company generally builds its
inventory levels during its third fiscal quarter in order to support
anticipated demand in the last quarter of its fiscal year.


Item 3.    Qualitative and Quantitative Disclosure About Market Risk

The Company does not believe it is exposed to market risks with respect to
any of its investments; the Company does not utilize market rate sensitive
instruments for trading or other purposes. The Company's investments
consist primarily of U.S. Government securities with maturities of two
years or less.


<PAGE>


                        PART II. - OTHER INFORMATION


ITEM 4.  Submission of Matters to a Vote of Security Holders.

          None.

ITEM 6.   Exhibits and Reports on Form 8-K.

          a.  Exhibits

          3.1   By-laws of the Company Amended and Restated as of
                August 13, 2001.
          10.1  Employment and Consulting Agreement between the Company
                and Seymour Lichtenstein amended and restated as of
                May 1, 2001.
          10.2  Employment Agreement between the Company and Jerald
                Kamiel amended and restated as of May 1, 2001.
          10.3  Employment Agreement between the Company and William
                J. Wilson amended and restated as of May 1, 2001.
          10.4  Employment Agreement between the Company and Rodney
                Faver amended and restated as of May 1, 2001.

          b.  Reports on Form 8-K

          No reports have been filed on Form 8-K during the quarter
          ended June 30, 2001.



<PAGE>




                              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.


                                  GARAN, INCORPORATED

                                  BY: /S/ Seymour Lichtenstein
                                     Seymour Lichtenstein
                                     Principal Executive Officer

                                  BY: /S/ William J. Wilson
                                     William J. Wilson
                                     Principal Financial Officer


DATE: August 13, 2001