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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q/A

(Mark One)

|   |  |                                                                                                                                                                    
|-- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------
|x  |  | Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended May 4, 2002                                 
|  
|  
|  
|  
|OR
|  
|  
|  
|  
|o  |  | 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 33-66342



COLE NATIONAL GROUP, INC.  (Exact name of registrant as specified in its charter)


|                                                               |  |                                     
|-------------------------------------------------------------- |  | ------------------------------------
|Delaware                                                       |  | 34-1744334                          
|                                                              
|                                                              
|                                                              
|                                                              
|(State or other jurisdiction of
incorporation or organization) |  | (I.R.S. employer identification no.)

|                                                                |  |           
|--------------------------------------------------------------- |  | ----------
|5915 Landerbrook Drive                                          |  | 44124     
|                                                               
|                                                               
|                                                               
|                                                               
|Mayfield Heights, Ohio
(Address of principal executive offices) |  | (Zip code)

(440) 449-4100
(Registrants telephone number, including area code)

The registrant meets the conditions set forth in General Instruction H(1)(a)
and (b) of Form 10-Q and is therefore filing this form in the reduced
disclosure format.

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. x YES     o NO

All of the outstanding capital stock of the registrant is held by Cole National
Corporation.

As of May 31, 2002, 1,100 shares of the registrants common stock, $.01 par
value were outstanding.



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TABLE OF CONTENTS



|                                |                              |  |  |  |  |  |  | 
|------------------------------- | ---------------------------- |  |  |  |  |  |  | 
|PART I.  FINANCIAL INFORMATION
|                                | Item 1. Financial Statements
|SIGNATURE                      



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PART I.  FINANCIAL INFORMATION




Item 1. Financial Statements

COLE NATIONAL GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)

|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |          |         |         | 
|----------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------- | ------------------------------------------ | --------------------------------- | -------- | ------- | ------- | ----------- | -------- | ------- | ------- | 
|                                                                                                |                                                                         |                                            |                                   |          | May 4,  |         | February 2,
|                                                                                                |                                                                         |                                            |                                   |          | 2002    |         | 2002       
|                                                                                                |                                                                         |                                            |                                   |          |         |         |            
|Assets                                                                                          |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Current assets:                                                                                 |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Cash and cash equivalents                                               |                                            | $                                 | 62,560   |         |         | $           | 63,656   |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Accounts receivable, less allowances of $5,494
and $4,008, respectively |                                            |                                   | 46,199   |         |         |             | 39,544   |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Current portion of notes receivable                                     |                                            |                                   | 2,795    |         |         |             | 2,825    |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Inventories                                                             |                                            |                                   | 118,832  |         |         |             | 111,098  |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Refundable income taxes                                                 |                                            |                                   | 472      |         |         |             | 502      |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Prepaid expenses and other                                              |                                            |                                   | 21,712   |         |         |             | 22,613   |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Deferred income tax benefits                                            |                                            |                                   | 500      |         |         |             | 430      |        
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                                |                                                                         |                                            | Total current assets              |          |         | 253,070 |             |          |         | 240,668 | 
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Property and equipment, at cost                                                                 |                                                                         |                                            | 293,604                           |          |         |         | 291,148     |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Less  accumulated depreciation and amortization                        |                                            |                                   | (172,998 | )       |         |             | (169,851 | )      
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                                |                                                                         |                                            | Total property and equipment, net |          |         | 120,606 |             |          |         | 121,297 | 
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Notes receivable, excluding current portion, less allowances
of $4,218 and $5,209, respectively |                                                                         |                                            | 3,921                             |          |         |         | 3,899       |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Deferred income taxes and other assets                                                          |                                                                         |                                            | 48,441                            |          |         |         | 49,371      |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Intangible assets, net                                                                          |                                                                         |                                            | 146,549                           |          |         |         | 146,544     |         
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                                |                                                                         |                                            | Total assets                      |          |         | 572,587 |             |          |         | 561,779 | 
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         
|Liabilities and Stockholders Equity                                                            |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Current liabilities:                                                                            |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Current portion of long-term debt                                       |                                            | $                                 | 44       |         |         | $           | 54       |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Account payable                                                         |                                            |                                   | 60,752   |         |         |             | 57,242   |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Payable to affiliates, net                                              |                                            |                                   | 74,393   |         |         |             | 73,548   |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Accrued interest                                                        |                                            |                                   | 7,436    |         |         |             | 6,130    |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Accrued liabilities                                                     |                                            |                                   | 80,475   |         |         |             | 78,725   |        
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                                | Accrued income taxes                                                    |                                            |                                   | 907      |         |         |             | 546      |        
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                                |                                                                         |                                            | Total current liabilities         |          |         | 224,007 |             |          |         | 216,245 | 
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Long-term debt, net of discount and current portion                                             |                                                                         |                                            | 274,346                           |          |         |         | 274,318     |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Other long-term liabilities                                                                     |                                                                         |                                            | 12,046                            |          |         |         | 12,040      |         
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|                                                                                               
|Stockholders equity                                                                            |                                                                         |                                            | 62,188                            |          |         |         | 59,176      |         
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         
|                                                                                                |                                                                         | Total liabilities and stockholders equity |                                   | $        | 572,587 |         |             | $        | 561,779 |        
|                                                                                                |                                                                         |                                            |                                   |          |         |         |             |         

The accompanying notes to consolidated financial statements are an integral part of these consolidated balance sheets.

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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 thereunto duly authorized.

|                    |  |  |                           |                                                                                                                                              
|------------------- |  |  | ------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------
|                    |  |  | COLE NATIONAL GROUP, INC.
|                   
|                    |  |  | By:                       | /s/ Tracy L. BurmeisterTracy L. Burmeister
Vice President Accounting and Reporting
(Duly Authorized Officer and
Principal Accounting Officer)
|                   
|Date: June 20, 2002 |  |  |                           |                                                                                                                                              

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