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 March 29, 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 1-8769

                             R. G. BARRY CORPORATION
           __________________________________________________________
             (Exact name of registrant as specified in its charter)

               OHIO                                     31-4362899
_________________________________                  ______________________
  (State or other jurisdiction                        (IRS Employer
of incorporation or organization)                  Identification Number)


                13405 Yarmouth Road, NW, Pickerington, Ohio 43147
           __________________________________________________________
               (Address of principal executive office) (Zip Code)


                                  614-864-6400
           __________________________________________________________
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE
           __________________________________________________________
              (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
requirement for the past 90 days.

                          Yes __X__           No _____


    Common Shares, $1 Par Value, Outstanding as of March 29, 1997 - 9,445,243



                          Index to Exhibits at page 10

                               Page 1 of 11 pages



<PAGE>
                         PART I - FINANCIAL INFORMATION
                          ITEM 1 - FINANCIAL STATEMENTS
                    R. G. BARRY CORPORATION AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS


                                              March 29, 1997   December 28, 1996
                                              --------------   -----------------
ASSETS:
   Cash and cash equivalents                    $ 4,450,000        13,187,000
   Accounts receivable, less allowances          11,453,000        18,556,000
   Inventory (note 3)                            37,429,000        28,854,000
   Deferred income taxes (note 4)                 5,055,000         5,055,000
   Recoverable income taxes                         678,000            --
   Prepaid expenses                               2,125,000         2,027,000
                                                -----------        ----------
         Total current assets                    61,190,000        67,679,000
                                                -----------        ----------
                                                              
   Property, plant and equipment, at cost        38,267,000        39,088,000
      Less accumulated depreciation &                         
        amortization                             24,170,000        25,159,000
                                                -----------        ----------
         Net property, plant and equipment       14,097,000        13,929,000
                                                -----------        ----------
                                                              
   Goodwill, net of amortization                  4,317,000         4,346,000
   Other assets                                   3,082,000         3,113,000
                                                -----------        ----------
                                                $82,686,000        89,067,000
                                                -----------        ----------
                                                              
LIABILITIES AND SHAREHOLDER'S EQUITY:                         
   Current installments of long-term debt                     
      and capital lease obligations                 125,000           125,000
   Accounts payable                               5,902,000         4,170,000
   Accrued expenses                               2,163,000         9,661,000
                                                -----------        ----------
      Total current liabilities                   8,190,000        13,956,000
                                                -----------        ----------
                                                              
   Accrued retirement costs and other, net        3,323,000         3,103,000
   Long-term debt and capital lease obligations               
      excluding current installments:                         
      Note payable                               15,000,000        15,000,000
      Capital lease obligations                     265,000           265,000
                                                -----------        ----------
         Long-term debt and capital lease                     
           obligations                           15,265,000        15,265,000
                                                -----------        ----------
obligations                                                   
            Total liabilities                    26,778,000        32,324,000
                                                -----------        ----------
                                                              
   Shareholders' equity:                                      
      Preferred shares, $1 par value                          
         Authorized 4,000,000 Class A,                        
         1,000,000 Series I Junior Participating              
         Class B shares, none issued                          
      Common shares, $1 par value                             
         Authorized 15,000,000 shares                         
         (excluding treasury shares)              9,445,000         9,375,000
      Additional capital in excess of par value  14,239,000        14,071,000
      Retained earnings                          32,224,000        33,297,000
                                                -----------        ----------
         Net shareholders' equity                55,908,000        56,743,000
                                                -----------        ----------
                                                $82,686,000        89,067,000
                                                -----------        ----------
                                                            


                               Page 2 of 11 pages



<PAGE>

                    R. G. BARRY CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS



                                                 Thirteen           Thirteen
                                                weeks ended        weeks ended
                                               March 29, 1997     March 30, 1996
                                               --------------     --------------

Net sales                                      $ 14,963,000          16,074,000
Cost of sales                                     6,604,000           7,362,000
                                               ------------         -----------
   Gross profit                                   8,359,000           8,712,000
Selling, general and
   administrative expense                        10,087,000           9,955,000
                                               ------------         -----------
Operating loss                                   (1,728,000)         (1,243,000)

Other income                                        145,000             163,000

Interest expense                                   (377,000)           (446,000)
Interest income                                     171,000              38,000
                                               ------------         -----------
   Net interest expense                            (206,000)           (408,000)

Loss before
   tax benefit                                   (1,789,000)         (1,488,000)
Income tax benefit (note 4)                        (716,000)           (595,000)
                                               ------------         -----------
   Net loss                                    ($ 1,073,000)           (893,000)
                                               ------------         -----------

Net loss per common share (note 5)
      Primary                                  ($      0.11)              (0.10)
                                               ------------         -----------
      Fully diluted                            ($      0.11)              (0.10)
                                               ------------         -----------

Average number of shares
   outstanding
      Primary                                     9,413,000           9,264,000
      Fully diluted                               9,413,000           9,264,000




                               Page 3 of 11 pages

<PAGE>
<TABLE>

                    R. G. BARRY CORPORATION AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW

                                                          Thirteen         Thirteen
                                                         weeks ended     weeks ended
                                                          March 29,       March 30,
                                                            1997             1996
                                                         -----------     -----------
<S>                                                    <C>                  <C>      
Cash flows from operating activities:
   Net loss                                            ($ 1,073,000)        (893,000)
   Adjustments to reconcile net loss to net cash
      used in operating activities:
      Depreciation and amortization of
         property, plant and equipment                      424,000          387,000
      Amortization of goodwill                               29,000           29,000
      Net (increase) decrease in:
         Accounts receivable, net                         7,103,000        3,727,000
         Inventory                                       (8,575,000)      (8,131,000)
         Prepaid expenses                                   (98,000)         (13,000)
         Recoverable income taxes                          (678,000)        (665,000)
         Other                                               31,000          (70,000)
      Net increase (decrease) in:
         Accounts payable                                 1,732,000       (3,459,000)
         Accrued expenses                                (7,498,000)      (7,281,000)
         Accrued retirement costs and other                 220,000            4,000
                                                       ------------      -----------
            Net cash used in operating activities        (8,383,000)     (16,365,000)
                                                       ------------      -----------

Cash flows from investing activities:
   Additions to property, plant and equipment, net         (592,000)        (555,000)
                                                       ------------      -----------

Cash flows from financing activities:
   Proceeds from short-term notes                                 0       12,000,000
   Stock options exercised, net of treasury                 238,000           10,000
acquisitions
   Repayment of long-term debt and
      capital lease obligations                                   0         (700,000)
                                                       ------------      -----------
         Net cash provided by financing activities          238,000       11,310,000
                                                       ------------      -----------

Net decrease in cash                                     (8,737,000)      (5,610,000)
Cash at the beginning of the period                      13,187,000        6,267,000
                                                       ------------      -----------
Cash at the end of the period                          $  4,450,000          657,000
                                                       ------------      -----------

Supplemental cash flow disclosures:
   Interest paid                                       $    742,000          771,000
   Income taxes paid                                   $  3,442,000        5,415,000

</TABLE>



                               Page 4 of 11 pages

<PAGE>



                    R. G. BARRY CORPORATION AND SUBSIDIARIES
                          Notes to Financial Statements
                       Under Item 1 of Part I of Form 10-Q
                              for the Periods ended
                        March 29, 1997 and March 30, 1996



1.   These  interim   financial   statement  are  unaudited.   All   adjustments
     (consisting  solely of normal recurring  adjustments) have been made which,
     in the opinion of  management,  are necessary to fairly present the results
     of operations.

2.   The Company operates on a fifty-two or fifty-three week annual fiscal year.
     Fiscal 1996 was a fifty-two week year consisting of four quarters each with
     thirteen  weeks.  During  fiscal 1997,  the first three  quarters each have
     thirteen weeks with a fourth quarter of fourteen weeks.

3.   A  substantial  portion of  inventory is valued using the dollar value LIFO
     method and,  therefore,  it is  impractical  to separate  inventory  values
     between raw materials, work-in-process and finished goods.

4.   Income tax benefit for the periods ended March 29, 1997 and March 30, 1996,
     consists of:

                                           1997             1996
                                           ----             ----
      Current:                           
     U. S. Federal benefit              ($605,000)       ($498,000)
     State & Local                       (111,000)         (97,000)
                                        ---------        ---------
          Total                         ($716,000)       ($595,000)

     The income tax  benefit  reflects a combined  federal,  foreign,  state and
     local  effective  rate of 40.0 percent for the first quarter of both years,
     as compared to the  statutory  U.S.  federal  rate of 34.0  percent in both
     years.

     Income tax for the periods ended March 29, 1997 and March 30, 1996 differed
     from the amounts  computed by applying the U.S.  federal income tax rate of
     34.0 percent to pretax loss as a result of the following:

                                           1997             1996
                                           ----             ----   
Computed "expected"
  tax benefit:
     U. S. Federal benefit              ($608,000)       ($506,000)
     Other                                (35,000)         (25,000)
     State & Local
       benefit, net of
       federal income tax benefit         (73,000)         (64,000)
                                        ---------        ---------
          Total                         ($716,000)       ($595,000)


5.   Net loss per common  share has been  computed  based on  average  number of
     shares  outstanding during each period plus, when their effect is dilutive,
     common share  equivalents  consisting  of certain  shares  subject to stock
     option and stock  purchase  plans.  Average common shares  outstanding  for
     prior  periods  have  been  retroactively  restated  to give  affect to all
     previous splits and dividends.





                               Page 5 of 11 pages

<PAGE>


                    R. G. BARRY CORPORATION AND SUBSIDIARIES

      ITEM 2 - Management's Discussion and Analysis of Financial Condition
                            and Results of Operations

     "Safe Harbor" Statement under the Private Securities  Litigation Reform Act
of 1995:

     THE  STATEMENTS  IN THIS  QUARTERLY  REPORT  ON FORM  10-Q,  WHICH  ARE NOT
HISTORICAL FACT ARE FORWARD LOOKING  STATEMENTS BASED UPON THE COMPANY'S CURRENT
PLANS AND STRATEGIES,  AND REFLECT THE COMPANY'S CURRENT ASSESSMENT OF THE RISKS
AND  UNCERTAINTIES  RELATED TO ITS  BUSINESS,  INCLUDING  SUCH THINGS AS PRODUCT
DEMAND  AND  MARKET  ACCEPTANCE;  THE  ECONOMIC  ENVIRONMENT  AND THE  IMPACT OF
GOVERNMENTAL  REGULATIONS,  BOTH IN THE UNITED STATES AND ABROAD; THE EFFECTS OF
COMPETITIVE PRODUCTS AND PRICING; CAPACITY,  EFFICIENCY, AND SUPPLY CONSTRAINTS;
WEATHER  CONDITIONS;  AND OTHER RISKS DETAILED IN THE COMPANY'S  PRESS RELEASES,
SHAREHOLDER  COMMUNICATIONS,  AND  SECURITIES AND EXCHANGE  COMMISSION  FILINGS.
ACTUAL RESULTS MAY DIFFER FROM THOSE CURRENTLY ANTICIPATED.


Liquidity and Capital Resources

The  Company  has ended the first  quarter  of 1997 with  $53.0  million  in net
working capital. This compares with $42.8 million at the end of the same quarter
in 1996,  and $53.7  million as of the end of fiscal  1996.  The increase in net
working  capital  from the end of the  first  quarter  of 1996 to the end of the
first quarter of 1997,  is primarily  due to the profit that the Company  earned
during fiscal 1996. The decline in working  capital from fiscal year end 1996 to
the end of the first  quarter of 1997, is mainly the result of the seasonal loss
in the first quarter of 1997.

Some of the changes in the components of the Company's net working capital are:

*    Accounts  receivable  decreased at the end of the first quarter of 1997, to
     $11.5  million from $14.5  million at the end of the first quarter of 1996,
     and decreased from $18.6 million at the end of fiscal 1996. The decrease in
     receivables  from  first  quarter  1996 to 1997,  is mainly  due to the 6.9
     percent decline in net sales during the first quarter of 1997 when compared
     with the same quarter of 1996.  The  decrease  from the end of fiscal 1996,
     mainly represents a normal seasonal pattern of change in receivables.

*    Inventories ended the first quarter of 1997, at $37.4 million compared with
     $39.8 million one year ago, and $28.9 million as of the end of fiscal 1996.
     The decrease in  inventories  from one year ago reflects the decline in net
     sales  activity  during the first  quarter of 1997  compared  with the same
     quarter of 1996. The increase in  inventories  from the end of fiscal 1996,
     reflects  normal seasonal  patterns of  inventories,  as the Company builds
     seasonal  inventories in  preparation  for  anticipated  needs later in the
     year.

*    The Company ended the first quarter of 1997,  with $4.5 million in cash and
     no  short-term  bank loans.  This  compares with the first quarter of 1996,
     when the  Company had $657  thousand in cash and $12 million in  short-term
     bank loans.  The increase in cash and decrease in short-term  bank loans is
     mainly  the  result of the year end 1996 cash  position  of $13.2  million,
     compared with the $6.3 million the prior year end. There were no short-term
     bank loans outstanding at the end of fiscal 1996.

The Company's capital expenditures during the first quarter of 1997, amounted to
$592  thousand,  compared  with $555  thousand  during the same  period of 1996.
Capital expenditures in both years were funded out of working capital.





                               Page 6 of 11 pages

<PAGE>


           Management's Discussion and Analysis of Financial Condition
                      and Results of Operations - continued



The Company  currently has in place a Revolving Credit  Agreement  ("Revolver"),
with its  three  main  lending  banks.  The  Revolver  provides  the  Company  a
seasonally  adjusted  available  line of credit  ranging from $6 million  during
January,  to a peak of $51 million  from July  through  November.  The  Revolver
contains financial covenants typical of agreements of its type and duration. The
Company is in compliance  with all the covenants of the Revolver,  and all other
debt agreements.  The Revolver  currently  extends through 1998 and provides for
periodic extensions upon request and with the approval of the banks. The Company
intends to request an extension through 1999, and anticipates its banks granting
that extension.

Results of Operations

During the first quarter of 1997,  net sales  amounted to $15.0  million,  a 6.9
percent  decline in net sales from the $16.1 million during the first quarter of
1996.  The primary  cause of the decline in net sales is related to the increase
in returns from  customers  that were received  during the first  quarter,  when
compared  with last year.  The Company  accrued for the profit impact of returns
during the fourth  quarter of 1996. In addition,  the Company,  in its 1996 year
end Annual Report to Shareholders, indicated that it expected sales and earnings
for the first half of the year to be lower  than in 1996,  mainly as a result of
refining its relationship  with Corning Consumer  Products  ("Corning").  During
1997,  Corning intends to outsource directly the Pyrex(R)  Portables(TM)  fabric
carriers,  which the Company had been  providing  to Corning.  The Company  will
continue to supply  Corning with  MICROCORE(R)  hot and cold  thermal  retention
elements.

Gross profit during the first quarter of 1997, amounted to $8.4 million on $15.0
million in net sales,  or 55.9 percent of net sales.  This  compares  with gross
profit of $8.7  million  on $16.1  million  in net sales in the same  quarter of
1996,  or 54.2 percent of net sales.  The  increase in gross profit  percentages
from year to year,  is partially  due to the impact on gross  profit  percentage
from the increase in returns in the first  quarter and partially due to a change
in mix of individual styles and products sold from one period to the other.

Selling, general and administrative expenses during the quarter include spending
in preparation for the Company's  previously  announced fall 1997 entry into the
French  market.  At $10.1  million,  expenses were  essentially  flat with those
expenses incurred during the first quarter of 1996, at $10.0 million.  There was
no single category of expense that fluctuated significantly from year to year.

Net interest  expense  declined  from 1996 to 1997.  During the first quarter of
1997, net interest expense amounted to $206 thousand compared with $408 thousand
in the first quarter of 1996. The decrease in net interest  expense is partially
due to the Company not utilizing its Revolver  during the first quarter of 1997,
compared with $12 million of usage during the same quarter in 1996. In addition,
as a result  improved  liquidity in 1997, the Company had more excess funds from
which to earn income on short-term instruments in 1997 than in 1996.

For the first quarter of 1997, the Company  incurred a loss of $1.1 million,  or
$0.11 per share,  compared  with a loss during the same  quarter of last year of
$893  thousand,  or $0.10  per  share.  All per  share  calculations  have  been
retroactively   restated  to  give  effect  to  the  five-for-four  share  split
distributed to shareholders on June 17, 1996.



                               Page 7 of 11 pages

<PAGE>


                           PART II - OTHER INFORMATION


Item 1.  Legal proceedings
          No response required

Item 2.   Changes in Securities
          (a), (b) Not Applicable

Item 3.   Defaults Upon Senior Securities
          (a), (b) Not Applicable

Item 4.   Submission of Matter to a Vote of Security Holders
          (a) - (d) Not Applicable

Item 5.   Other Information
          No response required

Item 6.   Exhibits and Reports on Form 8-K
          (a)  Exhibits: See Index to Exhibits at page 11.

          (b)  Reports on Form 8-K: No reports on Form 8-K were filed during
               the quarter ended March 29, 1997





                               Page 8 of 11 pages
<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.





                                            R. G. BARRY CORPORATION
                                            ____________________________________
                                            Registrant

May 1, 1997
-----------
   date
                                        /s/ Richard L. Burrell
                                            ____________________________________
                                            Richard L. Burrell
                                            Senior Vice President - Finance
                                            (Principal Financial Officer)
                                            (Duly Authorized Officer)





                               Page 9 of 11 pages

<PAGE>


                             R. G. BARRY CORPORATION

                                INDEX TO EXHIBITS



    Exhibit Number                  Description                  Page Number
    --------------                  -----------                  -----------


          27                  Financial Data Schedule                 11




                               Page 10 of 11 pages