<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 10-Q

(Mark One)
(x) Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934

For the quarterly period ended November 30, 1997 or

( ) Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934

For the transition period from                    to

Commission file number                       0-6708


                           Nautica Enterprises, Inc.

             (Exact Name of Registrant as Specified in Its Charter)

           Delaware                                       95-2431048
    (State or Other Jurisdiction of                    (I.R.S. Employer
     Incorporation or Organization)                   Identification No.)

   40 West 57th Street, New York, N.Y.                   10019
  (Address of Principal Executive Offices)              (Zip Code)

Registrant's Telephone Number, including Area Code      (212) 541-5990


(Former Name, Former Address and Former Fiscal Year, if Changed Since Last
Report)

         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 that 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
   ---     ---

                     APPLICABLE ONLY TO ISSUERS INVOLVED IN
                        BANKRUPTCY PROCEEDINGS DURING THE
                              PRECEDING FIVE YEARS

         Indicate by check mark whether the registrant has filed all documents
and reports required to be filed by Section 12, 13, or 15(d) of the Securities
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court

Yes      No
   ---     ---

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         The number of shares of Common Stock outstanding as of January 13, 1998
was 39,287,971.
<PAGE>   2
                   NAUTICA ENTERPRISES, INC. AND SUBSIDIARIES

                                NOVEMBER 30, 1997
                                   (Unaudited)


                                      INDEX
<TABLE>
<CAPTION>
                                                                              Page No.
                                                                              --------
<S>                                                                               <C>
Part I - Financial Information:

         Item 1.  Financial Statements (Unaudited):

         Condensed Consolidated Balance Sheets
         As of November 30, 1997 and February 29,
         1997...................................................................   2

         Condensed Consolidated Statements of Earnings
         For the Nine and Three Month Periods Ended
         November 30, 1997 and
         1996...................................................................   3

         Condensed Consolidated Statements of Cash Flows
         For the Nine Month Periods Ended
         November 30, 1997 and
         1996...................................................................   4

         Notes to Condensed Consolidated Financial
         Statements.............................................................   5

         Item 2.  Management's Discussion and Analysis of
                   Financial Condition and Results of
                  Operations....................................................   6

         Part II - Other
         Information............................................................   9
</TABLE>
<PAGE>   3
                   NAUTICA ENTERPRISES, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                  (unaudited)
<TABLE>
<CAPTION>
          ASSETS
                                                                             November 30,       February 29,
                                                                                 1997              1997
                                                                             ------------      ------------
<S>                                                                          <C>               <C>
Current assets:
  Cash and short-term investments                                            $ 64,057,526      $ 71,887,201
  Accounts receivable - net                                                    96,228,733        60,571,809
  Inventories                                                                  68,159,266        61,304,697
  Prepaid expenses and other current assets                                     7,347,665         4,306,521
  Deferred tax benefit                                                          5,774,938         5,774,938
                                                                             ------------      ------------
                              Total current assets                            241,568,128       203,845,166

Property, plant and equipment, net of
  accumulated depreciation and amortization                                    53,920,361        42,719,253

 Other assets                                                                   7,819,579         4,828,663
                                                                             ------------      ------------

                                                                             $303,308,068      $251,393,082
                                                                             ============      ============

          LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
  Current maturities of long-term debt                                       $     50,000      $     50,000
  Accounts payable - trade                                                     22,876,508        20,562,099
  Accrued expenses and other current liabilities                               36,636,719        24,779,371
  Income taxes payable                                                         12,875,512         2,213,591
                                                                             ------------      ------------
                              Total current liabilities                        72,438,739        47,605,061

Long-term debt -net                                                               100,000           150,000

Minority interest                                                                 384,030           510,157

Stockholders' equity:
  Preferred stock - par value $.01, authorized,
    2,000,000 shares; no shares issued
  Common stock - par value $.10, authorized, 100,000,000 shares; issued
    42,358,041 shares at November 30, 1997 and 41,770,841 shares at
    February 28, 1997                                                           4,235,804         4,177,084
  Additional paid-in capital                                                   58,057,159        55,502,729
  Retained earnings                                                           203,273,208       160,756,735
                                                                             ------------      ------------
                                                                              265,566,171       220,436,548
  Less:
    Common stock in treasury - at cost;
    3,070,070 shares at November 30, 1997
      and 2,270,070 at February 28, 1997                                       35,180,872        17,308,684
                                                                             ------------      ------------
                              Total stockholders' equity                      230,385,299       203,127,864
                                                                             ------------      ------------

                                                                             $303,308,068      $251,393,082
                                                                             ============      ============
</TABLE>

The accompanying notes are an integral part of these statements.

                                      -2-
<PAGE>   4
                   NAUTICA ENTERPRISES, INC. AND SUBSIDIARIES
                  CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

                                  (Unaudited)

<TABLE>
<CAPTION>

                                                             Nine Months Ended                     Three Months Ended
                                                                November 30,                           November 30,
                                                     ---------------------------------       ---------------------------------
                                                          1997                1996                1997                1996
                                                     -------------       -------------       -------------       -------------
<S>                                                  <C>                 <C>                 <C>                 <C>
Net Sales                                            $ 373,780,791       $ 296,050,473       $ 145,713,749       $ 116,569,759
Cost of goods sold                                     198,003,835         159,645,282          75,635,696          61,862,130
                                                     -------------       -------------       -------------       -------------
  Gross profit                                         175,776,956         136,405,191          70,078,053          54,707,629

Selling, general  and administrative expenses          112,132,417          86,661,608          39,684,782          30,078,589
Net royalty (income)                                    (4,107,575)         (2,809,418)         (1,801,471)         (1,227,017)
                                                     -------------       -------------       -------------       -------------
  Operating profit                                      67,752,114          52,553,001          32,194,742          25,856,057

Interest income                                          2,377,548           1,964,226             894,387             750,672
Minority interest in loss of                               
  consolidated subsidiary                                  806,127                --               214,910                --
                                                     -------------       -------------       -------------       -------------

Earnings before provision for income taxes              70,935,789          54,517,227          33,304,039          26,606,729

Provision for income taxes                              28,344,316          21,806,891          13,291,616          10,642,691
                                                     -------------       -------------       -------------       -------------

NET EARNINGS                                         $  42,591,473       $  32,710,336       $  20,012,423       $  15,964,038
                                                     =============       =============       =============       =============

Earnings per share of common stock                   $        1.02       $        0.76       $        0.48       $        0.37
                                                     =============       =============       =============       =============

Weighted average number of shares of common and
  common equivalent shares outstanding                  41,925,684          43,253,975          41,785,920          43,252,574
                                                     =============       =============       =============       =============

Cash dividends per common share                               none                none                none                none
                                                     =============       =============       =============       =============
</TABLE>

The accompanying notes are an integral part of these statements.

                                      -3-
<PAGE>   5
                   NAUTICA ENTERPRISES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                                     Nine Months Ended
                                                                                        November 30,
                                                                               -------------------------------
                                                                                   1997               1996
                                                                               ------------       ------------
<S>                                                                            <C>                <C>
  Cash flows from operating activities:
  Net earnings                                                                 $ 42,591,473       $ 32,710,336
                                                                               ------------       ------------
  Adjustments to reconcile net earnings to net cash provided by (used in)
     operating activities:
      Minority interest in loss of consolidated subsidiary                         (806,127)              --
      Depreciation and amortization                                               7,024,079          4,894,974
      Provision for accounts receivable allowances and sales
            returns and discounts                                                   759,397            354,496
      Changes in operating assets and liabilities
         Accounts receivable                                                    (35,704,785)       (28,918,758)
         Inventories                                                             (5,657,460)        (3,156,074)
         Prepaid expenses and other current assets                               (3,041,144)         1,384,300
         Other assets                                                              (684,081)        (1,340,588)
         Accounts payable                                                         1,119,239          5,099,975
         Accrued expenses and other current liabilities                          11,163,453          7,635,776
         Income taxes payable                                                    10,661,921          4,827,347
                                                                               ------------       ------------
  Total adjustments                                                             (15,165,508)        (9,218,552)
                                                                               ------------       ------------

Net cash provided by operating activities                                        27,425,965         23,491,784
                                                                               ------------       ------------

Cash flows from investing activities:
  Proceeds from minority shareholders of consolidated subsidiary                    680,000               --
  Acquisition, net of cash acquired                                              (2,948,178)              --
  Purchase of property, plant and equipment                                     (17,678,424)       (12,424,270)
  Purchase of short-term investments                                            (58,462,684)         4,800,000
                                                                               ------------       ------------
Net Cash used in investing activities                                           (78,409,286)        (7,624,270)
                                                                               ------------       ------------


Cash flows from financing activities:
  Principal payments on long-term debt                                              (50,000)           (50,000)
  Purchase of treasury stock                                                    (17,872,188)              --
  Proceeds from issuance of common stock                                          2,613,150            999,891
                                                                               ------------       ------------
Net cash (used in) provided by financing activities                             (15,309,038)           949,891
                                                                               ------------       ------------

(Decrease) increase in cash and cash equivalents                                (66,292,359)        16,817,405

Cash and cash equivalents at beginning of period                                 71,887,201         61,047,522
                                                                               ------------       ------------

Cash and cash equivalents at end of period                                     $  5,594,842       $ 77,864,927
Short-term investments at end of period                                          58,462,684               --
                                                                               ------------       ------------

Cash and short-term investments at end of period                               $ 64,057,526       $ 77,864,927
                                                                               ------------       ------------


Supplemental Information:

Cash payments for the periods ended:
Interest expense                                                               $     11,978       $     15,409
                                                                               ------------       ------------
Income taxes                                                                   $ 17,699,653       $ 16,975,046
                                                                               ------------       ------------
</TABLE>

The accompanying notes are an integral part of these statements.

                                      -4-
<PAGE>   6
                   NAUTICA ENTERPRISES, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                NOVEMBER 30, 1997
                                   (Unaudited)


NOTE 1 - The accompanying financial statements have been prepared without
         audit pursuant to the rules and regulations of the Securities and
         Exchange Commission. Certain information and footnote disclosures
         normally included in financial statements prepared in accordance with
         generally accepted accounting principles have been condensed or omitted
         pursuant to such rules and regulations. These statements include all
         adjustments, consisting only of normal recurring accruals, considered
         necessary for a fair presentation of financial position and results of
         operations. The financial statements included herein should be read in
         conjunction with the financial statements and notes thereto included in
         the latest annual report on Form 10-K.

NOTE 2 - The results of operations for the nine and three-month periods
         ended November 30, 1997 and 1996 are not necessarily indicative of the
         results to be expected for the full year.

NOTE 3 - The Company utilized the last-in, first-out "Lifo" method for
         inventories as of November 30, 1997 and February 28, 1997 and for the
         nine and three month periods ended November 30, 1997 and 1996. The
         "Lifo" inventory for the nine and three-month periods ended November
         30, 1997 and 1996 are based upon end of year estimates. Inventories at
         November 30, 1997 and February 28, 1997 consist primarily of finished
         goods.

NOTE 4 - Short-term investments consist primarily of government and agency
         bonds, tax exempt municipal bonds and corporate bonds. The Company
         accounts for these investments using Statement of Financial Accounting
         Standards No. 115, "Accounting for Certain Investments in Debt and
         Equity Securities" ("SFAS NO. 115"). This standard requires that
         certain debt and equity securities be adjusted to market value at the
         end of each accounting period. Unrealized market gains or losses will
         be reported in a separate component of stockholders' equity. Realized
         gains and losses on sales of investments will be determined on a
         specific identification basis. At November 30, 1997, all securities
         covered under SFAS No. 115 were designated as available for sale and
         are stated at market value which approximated cost.

         Cash and short-term investments at November 30, 1997, are summarized as
         follows:
<TABLE>
<CAPTION>
                                              Market/Cost
                                              -----------
<S>                                          <C>
Cash and cash equivalents                    $ 5,594,842
Short-term investments                        58,462,684
                                             -----------

        Cash and short-term investments      $64,057,526
                                             ===========
</TABLE>

                                      -5-
<PAGE>   7
                   NAUTICA ENTERPRISES, INC. AND SUBSIDIARIES
                     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS
                                NOVEMBER 30, 1997
                                   (Unaudited)

RESULTS OF OPERATIONS

For the Nine Months Ended November 30, 1997:

         Consolidated net sales increased 26% to $373.8 million in the nine
months ended November 30, 1997 as compared to $296.1 million in the comparable
prior year period. The increase is due primarily to increased sales of Nautica
products. Wholesale sales increased due to the expansion of Nautica's in-store
shop program, including both new and expanded shops as well as increases in
existing shops. The increase in retail outlet sales is attributable to the
opening of new outlet stores and to an increase in comparable store sales. The
increase in sales is primarily due to increased unit volume rather than price
increases.

         Consolidated gross profit increased in the nine months ended November
30, 1997 to 47.0% of net sales, as compared to 46.1% in the comparable prior
year period. The net increase resulted primarily from a shift to the higher
margin Nautica wholesale products and to an increase in retail outlet sales.

         Selling, general and administrative expenses as a percentage of net
sales increased to 30.0% in the nine months ended November 30, 1997 as compared
to 29.3% in the comparable prior year period. The net increase is due primarily
to higher marketing and retail development costs in the period.

         Net royalty income increased by $1,299,000 to $4,108,000 in the nine
months ended November 30, 1997 as compared to $2,809,000 in the comparable prior
year period. The increase is a result of increased royalty revenue from new and
existing licenses.

         Interest income increased by $414,000 to $2,378,000 in the nine months
ended November 31, 1997 as compared to $1,964,000 in the comparable prior year
period. The increase is the result of higher average rates of return on
investments.

         The provision for income taxes remained constant at 40.0% of earnings
before income taxes for the nine-month periods ended November 30, 1997 and 1996.

         Net earnings increased 30% to $42.6 million in the nine months ended
November 30, 1997 from $32.7 million in the comparable prior year period as a
result of the factors discussed above.


                                       -6-
<PAGE>   8
For the Three Months Ended November 30, 1997:

         Consolidated net sales increased 25% to $145.7 million in the three
months ended November 30, 1997 as compared to $116.6 million in the comparable
prior year period. The increase is due primarily to increased sales of Nautica
products. Wholesale sales increased due to the expansion of Nautica's in-store
shop program, including both new and expanded shops as well as increases in
existing shops. The increase in retail outlet sales is attributable to the
opening of new outlet stores and to an increase in comparable store sales. The
increase in sales is primarily due to increased unit volume rather than price
increases.

         Consolidated gross profit increased in the three months ended November
30, 1997 to 48.1% of net sales, as compared to 46.9% in the comparable prior
year period. The net increase resulted primarily from a shift to the higher
margin Nautica wholesale products and to an increase in retail outlet sales.

         Selling, general and administrative expenses as a percentage of net
sales increased to 27.2% in the three months ended November 30, 1997 as compared
to 25.8% in the comparable prior year period. The net increase is due primarily
to higher marketing and retail development costs in the period.

         Net royalty income increased by $574,000 to $1,801,000 in the three
months ended November 30, 1997 as compared to $1,227,000 in the comparable prior
year period. The increase is a result of increased royalty revenue from new and
existing licenses.

         Interest income increased by $143,000 to $894,000 in the three months
ended November 30, 1997 as compared to $751,000 in the comparable prior year
period. The increase is the result of higher average rates of return on
investments on slightly lower average cash balances.

         The provision for income taxes remained constant at 40.0% of earnings
before income taxes for the three-month periods ended November 30, 1997 and
1996.

         Net earnings increased 25% to $20.0 million in the three months ended
November 30, 1997 from $16.0 million in the comparable prior year period as a
result of the factors discussed above.


                                      - 7 -
<PAGE>   9
LIQUIDITY AND CAPITAL RESOURCES

         During the nine months ended November 30, 1997, the Company generated
cash related to operating activities of approximately $27.4 million. Increases
in accounts receivable and inventory of $35.7 and $5.7 million, respectively,
resulting from increased sales levels, were financed by cash generated from net
earnings, increases in accounts payable, accrued expenses and income taxes
payable. During the nine months ended November 30, 1996, the Company generated
cash from operating activities of approximately $23.5 million. Increases in
accounts receivable and inventory of $28.9 and $3.2 million, respectively,
resulting from increased sales levels, were financed by cash generated from net
earnings, increases in accounts payable, accrued expenses and income taxes
payable.

         During the nine months ended November 30, 1997, the Company's principal
investing activities related to the continued expansion of the in-store shop
program. The Company expects to continue to incur capital expenditures to expand
the in-store shop program. At November 30, 1997 there were no other material
commitments for capital expenditures.

         During the nine months ended November 30, 1997, the Company repurchased
800,000 shares of its common stock. The shares purchased completed the Board
approved stock repurchase plan to repurchase 1,500,000 shares of the Company's
common stock. The remaining shares were purchased at an aggregate cost of $17.9
million. In January 1998, the Board of Directors authorized the Company to
repurchase up to an additional 1,000,000 shares.                            

         The Company has $100.0 million in lines of credit with two commercial
banks available for short-term borrowings and letters of credit. These lines are
collateralized by imported inventory and accounts receivable. At November 30,
1997, letters of credit outstanding under the lines were $39.2 million and there
were no short-term borrowings outstanding.

         Historically, the Company has experienced its lowest level of sales in
the first quarter and its highest level in the third quarter. This pattern has
resulted primarily from the timing of shipments to retail customers for spring
and fall seasons. In the future, the timing of seasonal shipments may vary by
quarter.


INFLATION AND CURRENCY FLUCTUATIONS

         The Company believes that inflation and the effect of fluctuations of
the dollar against foreign currencies have not had a material effect on the cost
of imports or the Company's results of operations.


FORWARD-LOOKING AND CAUTIONARY STATEMENTS

         Certain statements included in this report, including the words
"believes," "anticipates," "expects" and similar expressions, are intended to
identify forward-looking statements. Such statements are subject to certain
risks and uncertainties, which could cause actual results to differ materially
from those projected. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The Company
undertakes no obligation to republish revised forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events. Readers are also urged to carefully review
and consider the various disclosures made by the Company in this report, as well
as the Company's periodic reports on Forms 10-K and 10-Q and other filings with
the Securities and Exchange Commission.

                                      - 8 -
<PAGE>   10
                                     PART II

                                OTHER INFORMATION

Items I through 9. - All items are inapplicable except:



Item 6.  Exhibits and Reports on Form 8-K


(a)  Exhibits

<TABLE>
<CAPTION>
Exhibit No.
-----------

<S>               <C>
3(a)              Registrant's By-laws as currently in effect are incorporated
                  herein by reference to Registrant's Registration Statement on
                  Form S-1 (Registration No. 33-21998).

3(b)              Registrant's Certificate of Incorporation is incorporated
                  herein by reference to the Registration Statement on Form S-3
                  (Registration No. 33-71926), as amended by Certificates of
                  Amendment dated June 29,1995 and July 2, 1996, incorporated by
                  reference to the Registrant's Annual Report on Form 10-K for
                  the year ended February 29, 1996 and the Quarterly Report on
                  Form 10-Q for the quarter ended May 31, 1996, respectively.

10 (iii) (a)      Registrant's Executive Incentive Stock Option Plan
                  is incorporated by reference herein from the Registrant's
                  Registration Statements on Form S-8 (Registration Number
                  33-1488), as amended by the Registrant's Registration
                  Statement on Form S-8 (Registration Number 33-45823).

10 (iii) (b)      Registrant's 1989 Employee Incentive Stock Option
                  Plan is incorporated by reference herein from the Registrant's
                  Registration Statement on Form S-8 (Registration Number
                  33-36040).

10 (iii) (c)      Registrant's 1994 Incentive Compensation Plan is
                  incorporated by reference herein from the Registrant's Annual
                  Report on Form 10-K for the year ended February 29, 1996.

10 (iii) (d)      Registrant's 1996 Stock Incentive Plan is
                  incorporated by reference herein from the Registrant's Annual
                  report on Form 10-K for the year ended February 28, 1997.

27                Financial Data Schedule.



(b)      Reports on Form 8-K.                  None
</TABLE>


                                      - 9 -
<PAGE>   11
                                   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.


                                                 NAUTICA ENTERPRISES, INC.




                                       By:      /s/ Harvey Sanders
                                                --------------------------------
                                                    Harvey Sanders
                                                    Chairman of the Board
                                                    and President
Date:  January 13, 1998



                                       By:      /s/ Neal S. Nackman
                                                --------------------------------
                                                    Neal S. Nackman
                                                    V.P. Finance and
                                                    Chief Accounting Officer
Date:  January 13, 1998

                                     - 10 -