----

|  X  | QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------|

|      | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|--------------------------|---------------------------------------------------------------------------------------------------------------------------------------|

----

|                            DELAWARE                             |                                       |                                                     36-2472410                                    |  |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|
| (State                or other jurisdiction                                                                                                                                                                                                                                                                                                        | (IRS                Employer          |
| of                incorporation or organization)                                                                                                                                                                                                                                                                                                   | Identification                Number) |

| 600                KELLWOOD PARKWAY, P.O. BOX 14374, ST. LOUIS, MO                             | 63178                         |
|------------------------------------------------------------------------------------------------|-------------------------------|
|     (Address                of                principal executive offices) | (Zip                Code)     |
|                                                                                           |                          |
| Registrant’s                telephone number, including area code                        | (314)                576-3100 |

----

|                                         |                                                                                                                              |                                                                               | Page                No.                              |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------|------------------------------------------------------|
|                                         |                                                                                                                              |                                                                               |                                                 |
| PART                I. FINANCIAL INFORMATION |                                                                                                                              |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         | Item                1. Financial Statements (Unaudited):                                                                          |                                                                               |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         |                                                                                                                              | Condensed                Consolidated Balance Sheet                                | 3            |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         |                                                                                                                              | Condensed                Consolidated Statement of                Operations       | 4            |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         |                                                                                                                              | Condensed                Consolidated Statement of Cash                Flows       | 5            |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         |                                                                                                                              | Notes                to Condensed Consolidated Financial                Statements | 6-21         |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         | Item                2. Management’s Discussion and Analysis of Financial                Condition and Results of Operations | 22-36                            |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         | Item                3. Quantitative and Qualitative Disclosures about Market                Risk                                  | 36                                         |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         | Item                4. Controls and Procedures                                                                                    | 36                                         |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         |                                                                                                                              |                                                                               |                                                 |
| PART                II. OTHER INFORMATION    |                                                                                                                              |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         | Item                2. Unregistered Sales of Equity Securities and                Use of Proceeds                                 | 37                                         |
|                                         |                                                                                                                              |                                                                               |                                                 |
|                                         | Item                6. Exhibits                                                                                                   | 37                                         |

----

**PART      I. FINANCIAL INFORMATION**

**Item      1. Financial Statements**

**KELLWOOD      COMPANY AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED BALANCE SHEET**

|                                                                    |   |   | July                30,  |   |   |   | July                31, |   |   |                       |   |
|-------------------------------------------------------------------------|--------|--------|-------------------------------|--------|--------|--------|-------------------------|--------|--------|----------------------------|--------|
|                                                                    |   |   | 2005                          |   |   |   | 2004                    |   |   | January                29, |   |
|                                                                    |   |   | (Unaudited)                   |   |   |   | (Unaudited)        |   |   | 2005                       |   |
| ASSETS                                                                  |   |   |                          |   |   |   |                    |   |   |                       |   |
| Current                assets:                                          |   |   |                          |   |   |   |                    |   |   |                       |   |
| Cash                and cash equivalents                                |   | $      | 293,170                       |   |   | $      | 262,508                 |   | $      | 261,395                    |   |
| Receivables,                net                                         |   |   | 375,365                       |   |   |   | 341,820                 |   |   | 381,697                    |   |
| Inventories                                                             |   |   | 282,516                       |   |   |   | 346,761                 |   |   | 331,602                    |   |
| Current                deferred taxes and prepaid expenses              |   |   | 73,475                        |   |   |   | 69,772                  |   |   | 55,220                     |   |
| Total                current assets                                     |   |   | 1,024,526                     |   |   |   | 1,020,861               |   |   | 1,029,914                  |   |
|                                                                    |   |   |                          |   |   |   |                    |   |   |                       |   |
| Property,                plant and equipment, net                       |   |   | 81,833                        |   |   |   | 95,745                  |   |   | 95,807                     |   |
| Intangible                assets, net                                   |   |   | 165,264                       |   |   |   | 223,833                 |   |   | 191,958                    |   |
| Goodwill                                                                |   |   | 195,341                       |   |   |   | 185,508                 |   |   | 223,982                    |   |
| Other                assets                                             |   |   | 28,583                        |   |   |   | 37,057                  |   |   | 36,641                     |   |
| Total                assets                                             |   | $      | 1,495,547                     |   |   | $      | 1,563,004               |   | $      | 1,578,302                  |   |
|                                                                    |   |   |                          |   |   |   |                    |   |   |                       |   |
| LIABILITIES                AND SHAREOWNERS’                EQUITY |   |   |                          |   |   |   |                    |   |   |                       |   |
| Current                liabilities:                                     |   |   |                          |   |   |   |                    |   |   |                       |   |
| Current                portion of long-term debt                        |   | $      | 33                            |   |   | $      | 252                     |   | $      | 149                        |   |
| Accounts                payable                                         |   |   | 187,359                       |   |   |   | 207,334                 |   |   | 175,852                    |   |
| Accrued                salaries and employee benefits                   |   |   | 36,829                        |   |   |   | 40,931                  |   |   | 43,787                     |   |
| Other                accrued expenses                                   |   |   | 83,711                        |   |   |   | 73,746                  |   |   | 90,359                     |   |
| Total                current liabilities                                |   |   | 307,932                       |   |   |   | 322,263                 |   |   | 310,147                    |   |
|                                                                    |   |   |                          |   |   |   |                    |   |   |                       |   |
| Long-term                debt                                           |   |   | 469,729                       |   |   |   | 469,653                 |   |   | 469,657                    |   |
| Deferred                income taxes and other                          |   |   | 68,415                        |   |   |   | 77,315                  |   |   | 77,522                     |   |
|                                                                    |   |   |                          |   |   |   |                    |   |   |                       |   |
| Shareowners’                equity:                               |   |   |                          |   |   |   |                    |   |   |                       |   |
| Common                stock                                             |   |   | 271,746                       |   |   |   | 269,776                 |   |   | 270,264                    |   |
| Retained                earnings                                        |   |   | 487,003                       |   |   |   | 536,831                 |   |   | 562,839                    |   |
| Accumulated                other comprehensive income (loss)            |   |   | (10,529                       | )      |   |   | (12,147                 | )      |   | (11,396                    | )      |
| Less                treasury stock, at cost                             |   |   | (98,749                       | )      |   |   | (100,687                | )      |   | (100,731                   | )      |
| Total                shareowners’                equity           |   |   | 649,471                       |   |   |   | 693,773                 |   |   | 720,976                    |   |
| Total                liabilities and shareowners’ equity          |   | $      | 1,495,547                     |   |   | $      | 1,563,004               |   | $      | 1,578,302                  |   |

----

**KELLWOOD      COMPANY AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENT OF OPERATIONS      (UNAUDITED)**

|                                                |   |   | Three                Months Ended |     |   | Six                Months Ended |   |
|-----------------------------------------------------|--------|--------|-----------------------------------|----------|--------|---------------------------------|--------|
|                                                |   |   | July                30,           |     |   | July                31,         |   |   | July                30, |   |   | July                31, |   |
|                                                |   |   | 2005                              |     |   | 2004                            |   |   | 2005 |   |   | 2004 |   |
| Net                sales                            |   |   | $                                 | 561,837  |   |                            | $      | 560,467 |   |   | $ | 1,201,215 |   |   | $ | 1,246,570 |   |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and expenses:                  |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Cost                of products sold                |   |   |                              | 518,311  |   |                            |   | 436,074 |   |   |   | 1,023,567 |   |   |   | 967,612 |   |
| Selling,                general and                 |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| administrative                expenses              |   |   |                              | 94,857   |   |                            |   | 99,326 |   |   |   | 200,985 |   |   |   | 206,234 |   |
| Amortization                of intangible assets    |   |   |                              | 3,206    |   |                            |   | 3,465 |   |   |   | 6,407 |   |   |   | 6,931 |   |
| Impairment,                restructuring and        |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| related                non-recurring charges        |   |   |                              | 71,862   |   |                            |   | — |   |   |   | 71,862 |   |   |   | — |   |
| Interest                expense, net                |   |   |                              | 5,911    |   |                            |   | 6,752 |   |   |   | 12,545 |   |   |   | 13,039 |   |
| Other                (income) and expense, net      |   |   |                              | (334     | )      |                            |   | (694 | ) |   |   | (513 | ) |   |   | (873 | ) |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| (Loss)                earnings before income taxes  |   |   |                              | (131,976 | )      |                            |   | 15,544 |   |   |   | (113,638 | ) |   |   | 53,627 |   |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Income                tax (benefit) provision       |   |   |                              | (52,565  | )      |                            |   | 5,324 |   |   |   | (46,697 | ) |   |   | 18,367 |   |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Net                (loss) earnings                  |   |   | $                                 | (79,411  | )      |                            | $      | 10,220 |   |   | $ | (66,941 | ) |   | $ | 35,260 |   |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted                average shares outstanding: |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                               |   |   |                              | 27,812   |   |                            |   | 27,585 |   |   |   | 27,785 |   |   |   | 27,336 |   |
| Diluted                                             |   |   |                              | 27,812   |   |                            |   | 28,150 |   |   |   | 27,785 |   |   |   | 27,990 |   |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| (Loss)                earnings per share:           |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                               |   |   | $                                 | (2.86    | )      |                            | $      | .37 |   |   | $ | (2.41 | ) |   | $ | 1.29 |   |
| Diluted                                             |   |   | $                                 | (2.86    | )      |                            | $      | .36 |   |   | $ | (2.41 | ) |   | $ | 1.26 |   |
|                                                |   |   |                              |     |   |                            |   |   |   |   |   |   |   |   |   |   |   |
| Dividends                paid per share             |   |   | $                                 | .16      |   |                            | $      | .16 |   |   | $ | .32 |   |   | $ | .32 |   |

----

**KELLWOOD      COMPANY AND SUBSIDIARIES**

**CONDENSED      CONSOLIDATED STATEMENT OF CASH FLOWS      (UNAUDITED)**

|                                                                  |   |   | Six                months ended |    |
|-----------------------------------------------------------------------|--------|--------|---------------------------------|---------|
|                                                                  |   |   |  July                30,   |    |   |  July                31, |   |
|                                                                  |   |   | 2005                            |    |   | 2004 |   |
| **Operating                activities:**                              |   |   |                            |    |   |   |   |   |   |
| Net                (loss) earnings                                    |   |   | $                               | (66,941 | ) |   | $ | 35,260 |   |
|                                                                  |   |   |                            |    |   |   |   |   |   |
| Add/(deduct)                items not affecting operating cash flows: |   |   |                            |    |   |   |   |   |   |
| Depreciation                and amortization                          |   |   |                            | 21,301  |   |   |   | 20,970 |   |
| Deferred                income taxes and other                        |   |   |                            | (7,165  | ) |   |   | 4,882 |   |
| Non-cash                portion of inventory/accounts receivable      |   |   |                            |    |   |   |   |   |   |
| valuation                adjustments and impairment, restructuring    |   |   |                            |    |   |   |   |   |   |
| and                related non-recurring charges                      |   |   |                            | 133,357 |   |   |   | — |   |
| Tax                effect of non-cash portion of inventory/accounts   |   |   |                            |    |   |   |   |   |   |
| receivable                valuation adjustments and impairment,       |   |   |                            |    |   |   |   |   |   |
| restructuring                and related non-recurring charges        |   |   |                            | (40,007 | ) |   |   | — |   |
|                                                                  |   |   |                            |    |   |   |   |   |   |
| Other                changes in working capital components:           |   |   |                            |    |   |   |   |   |   |
| Receivables,                net                                       |   |   |                            | 1,172   |   |   |   | (18,439 | ) |
| Inventories                                                           |   |   |                            | 17,696  |   |   |   | (30,104 | ) |
| Current                deferred taxes and prepaid expenses            |   |   |                            | (20,901 | ) |   |   | (3,389 | ) |
| Accounts                payable and accrued expenses                  |   |   |                            | 18,179  |   |   |   | 29,797 |   |
| Net                cash provided by operating activities              |   |   |                            | 56,691  |   |   |   | 38,977 |   |
|                                                                  |   |   |                            |    |   |   |   |   |   |
| **Investing                activities:**                              |   |   |                            |    |   |   |   |   |   |
| Acquisitions,                net of cash acquired                     |   |   |                            | (12,178 | ) |   |   | (143,337 | ) |
| Additions                to property, plant and equipment             |   |   |                            | (10,762 | ) |   |   | (12,952 | ) |
| Subordinated                note receivable                           |   |   |                            | 2,063   |   |   |   | 1,375 |   |
| Dispositions                of fixed assets                           |   |   |                            | 1,325   |   |   |   | 202 |   |
| Net                cash used in investing activities                  |   |   |                            | (19,552 | ) |   |   | (154,712 | ) |
|                                                                  |   |   |                            |    |   |   |   |   |   |
| **Financing                activities:**                              |   |   |                            |    |   |   |   |   |   |
| Borrowings                of long-term debt, net of financing costs   |   |   |                            | -       |   |   |   | 195,390 |   |
| Repayments                of long-term debt                           |   |   |                            | -       |   |   |   | (4,448 | ) |
| Dividends                paid                                         |   |   |                            | (8,895  | ) |   |   | (8,758 | ) |
| Stock                transactions under incentive plans               |   |   |                            | 3,531   |   |   |   | 16,904 |   |
| Net                cash (used in) provided by financing activities    |   |   |                            | (5,364  | ) |   |   | 199,088 |   |
|                                                                  |   |   |                            |    |   |   |   |   |   |
| **Net                change in cash and cash equivalents**            |   |   |                            | 31,775  |   |   |   | 83,353 |   |
| Cash                and cash equivalents, beginning of period         |   |   |                            | 261,395 |   |   |   | 179,155 |   |
| Cash                and cash equivalents, end of period               |   |   | $                               | 293,170 |   |   | $ | 262,508 |   |
|                                                                  |   |   |                            |    |   |   |   |   |   |
| Supplemental                cash flow information:                    |   |   |                            |    |   |   |   |   |   |
| Interest                paid                                          |   |   | $                               | 15,361  |   |   | $ | 12,403 |   |
| Income                taxes paid (refunded), net                      |   |   | $                               | (522    | ) |   | $ | 7,927 |   |

----

NOTES        TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS        (UNAUDITED)

**Note        1.**
**Accounting        policies. **

**Reclassifications.**

**Note        2. Impairment, restructuring and related non-recurring charges.**

|   | · | Exit                  Kellwood Private Label Menswear (which does not include the Company’s                  Smart Shirts subsidiary), Kellwood Intimate Apparel Group and Kellwood                  New                  England (in process); |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Restructure                  Kellwood’s Oakland Operation by exiting several labels to better focus on                  developing the Koret brand (in process);                  and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reassess                  certain ongoing business operations for the appropriateness of                  the                  Company’s operations and support infrastructures and also perform a review                  of its assumptions regarding the future profitability and realizability                  of                  intangible assets of certain brands, labels and divisions (completed). |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                        |   |   | Three                  months ended |   |   | Six                  months ended |   |
|-----------------------------|--------|--------|-------------------------------------|--------|--------|-----------------------------------|--------|
|                        |   |   | July                  30, 2005      |   |   | July                  31, 2004    |   |   | July                  30, 2005 |   |   | July                  31, 2004 |   |
| Net                  sales  |   |   | $                                   | 78,751 |   |                              | $      | 77,950 |   |   | $ | 164,583 |   |   | $ | 161,321 |   |
| Net                  (loss) |   |   | $                                   | (4,681 | )      |                              | $      | (655 | ) |   | $ | (7,864 | ) |   | $ | (1,143 | ) |

----

|                                      |   |   | Total                          |    |   | Provision                  Recorded    |   |
|-------------------------------------------|--------|--------|--------------------------------|---------|--------|----------------------------------------|--------|
|                                      |   |   | Expected                  Cost |    |   | Through                  July 30, 2005 |   |
| Women’s                  Sportswear |   |   | $                              | 101,335 |   |                                   | $      | 53,464 |   |
| Men’s                  Sportswear   |   |   |                           | 54,112  |   |                                   |   | 28,407 |   |
| Other                  Soft Goods         |   |   |                           | 55,023  |   |                                   |   | 45,334 |   |
| General                  Corporate        |   |   |                           | 14,530  |   |                                   |   | 6,152 |   |
| Total                                     |   |   | $                              | 225,000 |   |                                   | $      | 133,357 |   |

|                                                         |   |   | 2005      |    |   | 2005        |   |    | Accrual                        |   |
|--------------------------------------------------------------|--------|--------|-----------|---------|--------|-------------|--------|---------|--------------------------------|--------|
|                                                         |   |   | Provision |    |   | Utilization |   |    | As                  of 7/30/05 |   |
| Inventory                  and Purchase Commitment Reserves  |   |   | $         | 56,335  |   |        | $      | 251     |                           |   | $ | 56,084 |   |
| Fixed                  Asset Write-downs                     |   |   |      | 13,392  |   |        |   | 13,392  |                           |   |   | — |   |
| Sales                  Allowances                            |   |   |      | 5,160   |   |        |   | — |                           |   |   | 5,160 |   |
| Contractual                  Obligations                     |   |   |      | 4,504   |   |        |   | — |                           |   |   | 4,504 |   |
| Employee                  Severance and Termination Benefits |   |   |      | 4,400   |   |        |   | — |                           |   |   | 4,400 |   |
| Impairment                  of Intangible Assets             |   |   |      | 49,566  |   |        |   | 49,566  |                           |   |   | — |   |
| Total                                                        |   |   | $         | 133,357 |   |        | $      | 63,209  |                           |   | $ | 70,148 |   |

*Accounting        for the Impairment or Disposal of Long-Lived Assets*

**Note        3. Business combinations.**

----

**Note        4**
**.        **
**Inventories.        **

|                                                      |   |   | July                  30, |    |   | July                  31, |   |    | January                  29, |   |
|-----------------------------------------------------------|--------|--------|---------------------------|---------|--------|---------------------------|--------|---------|------------------------------|--------|
|                                                      |   |   | 2005                      |    |   | 2004                      |   |    | 2005                         |   |
| Inventories:                                              |   |   |                      |    |   |                      |   |    |                         |   |   |   |   |
| Finished                  goods                           |   |   | $                         | 211,154 |   |                      | $      | 264,386 |                         |   | $ | 258,867 |   |
| Work                  in process                          |   |   |                      | 35,612  |   |                      |   | 36,046  |                         |   |   | 36,352 |   |
| Raw                  materials                            |   |   |                      | 35,750  |   |                      |   | 46,329  |                         |   |   | 36,383 |   |
| Total                  inventories                        |   |   | $                         | 282,516 |   |                      | $      | 346,761 |                         |   | $ | 331,602 |   |
| Net                  of obsolescence reserves for:        |   |   |                      |    |   |                      |   |    |                         |   |   |   |   |
| Prior                  to restructuring                   |   |   | $                         | 32,920  |   |                      | $      | 31,467  |                         |   | $ | 33,651 |   |
| Restructuring                  at businesses to be exited |   |   |                      | 31,158  |   |                      |   | — |                         |   |   | — |   |
| Total                  obsolescence reserves              |   |   | $                         | 64,078  |   |                      | $      | 31,467  |                         |   | $ | 33,651 |   |

**Note        5**
**.        **
**Goodwill        and intangible assets.**
** **
** **

|                                                 |   |   | Goodwill |    |   | Intangibles |   |
|------------------------------------------------------|--------|--------|----------|---------|--------|-------------|--------|
| Balance                  as of January 29, 2005      |   |   | $        | 223,982 |   |        | $      | 191,958 |   |
| Changes:                                             |   |   |     |    |   |        |   |   |   |
| Contingent                  purchase price - Briggs  |   |   |     | 541     |   |        |   | — |   |
| Contingent                  purchase price - Phat    |   |   |     | 97      |   |        |   | — |   |
| Intangible                  asset impairment charges |   |   |     | (29,279 | )      |        |   | (20,287 | ) |
| Amortization                  expense                |   |   |     | — |   |        |   | (6,407 | ) |
| Balance                  as of July 30, 2005         |   |   | $        | 195,341 |   |        | $      | 165,264 |   |

----

*Goodwill        and Other Intangible Assets*

**Note        6. Debt.**

----

**Note        7. Comprehensive (loss) income. **
** **

|                                                     |   |   | Three                  months ended |    |   | Six                  months ended |   |
|----------------------------------------------------------|--------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|
|                                                     |   |   | July                  30,           |    |   | July                  31,         |   |   | July                  30, |   |   | July                  31, |   |
|                                                     |   |   | 2005                                |    |   | 2004                              |   |   | 2005 |   |   | 2004 |   |
| Net                  (loss) earnings                     |   |   | $                                   | (79,411 | )      |                              | $      | 10,220 |   |   | $ | (66,941 | ) |   | $ | 35,260 |   |
|                                                     |   |   |                                |    |   |                              |   |   |   |   |   |   |   |   |   |   |   |
| Other                  comprehensive income (loss):      |   |   |                                |    |   |                              |   |   |   |   |   |   |   |   |   |   |   |
| Currency                  translation adjustment         |   |   |                                | 150     |   |                              |   | (413 | ) |   |   | 453 |   |   |   | (747 | ) |
| Unrecognized                  gain/(loss) on derivatives |   |   |                                | 230     |   |                              |   | (153 | ) |   |   | 413 |   |   |   | 220 |   |
| Total                  comprehensive income (loss)       |   |   | $                                   | (79,031 | )      |                              | $      | 9,654 |   |   | $ | (66,075 | ) |   | $ | 34,733 |   |

**Note        8. Stock option plans. **

*Accounting        for Stock Issued to Employees*
*Accounting        for Stock-Based Compensation*
*Accounting        for Stock-Based Compensation-Transition and Disclosure*

|                                                          |   |   | Three                  months ended |    | Six                  months ended |                      |
|---------------------------------------------------------------|--------|--------|-------------------------------------|---------|-----------------------------------|---------------------------|
|                                                          |   |   | July                  30,           |    |                              | July                  31, |   | July                  30, |   |   | July                  31, |   |
|                                                          |   |   | 2005                                |    |                              | 2004                      |   | 2005 |   |   | 2004 |   |
| Net                  (loss) earnings as reported              |   |   | $                                   | (79,411 | )                                 |                      | $ | 10,220 |   | $ | (66,941 | ) |   | $ | 35,260 |   |
| Stock-based                  employee compensation expense    |   |   |                                |    |                              |                      |   |   |   |   |   |   |   |   |   |   |
| determined                  under fair value-based method for |   |   |                                |    |                              |                      |   |   |   |   |   |   |   |   |   |   |
| all                  stock option awards, net of tax effect   |   |   |                                | (720    | )                                 |                      |   | (851 | ) |   | (5,965 | ) |   |   | (1,702 | ) |
|                                                          |   |   |                                |    |                              |                      |   |   |   |   |   |   |   |   |   |   |
| Pro-forma                  net (loss) earnings                |   |   | $                                   | (80,131 | )                                 |                      | $ | 9,369 |   | $ | (72,906 | ) |   | $ | 33,558 |   |
|                                                          |   |   |                                |    |                              |                      |   |   |   |   |   |   |   |   |   |   |
| (Loss)                  earnings per share:                   |   |   |                                |    |                              |                      |   |   |   |   |   |   |   |   |   |   |
| Basic,                  as reported                           |   |   | $                                   | (2.86   | )                                 |                      | $ | .37 |   | $ | (2.41 | ) |   | $ | 1.29 |   |
| Basic,                  pro-forma                             |   |   | $                                   | (2.88   | )                                 |                      | $ | .34 |   | $ | (2.62 | ) |   | $ | 1.23 |   |
| Diluted,                  as reported                         |   |   | $                                   | (2.86   | )                                 |                      | $ | .36 |   | $ | (2.41 | ) |   | $ | 1.26 |   |
| Diluted,                  pro-forma                           |   |   | $                                   | (2.88   | )                                 |                      | $ | .33 |   | $ | (2.62 | ) |   | $ | 1.20 |   |

*Share-Based        Payment*
** **

----

**Note        9. Income taxes.**

|                                                           |   | Three                  months ended       |    | Six                  months ended   |   |
|----------------------------------------------------------------|--------|-------------------------------------------|---------|-----------------------------------------------|--------|
|                                                           |   |  July                  30,2005  |    | July                  31,2004            |   | July                  30,2005 |   |  July                  31,2004 |   |
| (Benefit)                  provision on pretax (loss) earnings |        | $                                         | (39,565 | )                                             | $      | 5,324 |   | $ | (33,697 | ) | $ | 18,367 |   |
| Effect                  of repatriation of foreign earnings    |        |                                      | (13,000 | )                                             |   | — |   |   | (13,000 | ) |   | — |   |
| Total                  income tax (benefit) provision          |        | $                                         | (52,565 | )                                             | $      | 5,324 |   | $ | (46,697 | ) | $ | 18,367 |   |

**Note        10. (Loss) earnings per share. **

|                                                  |  Three                  months ended |    |  Six                  months ended |                          |
|-------------------------------------------------------|-------------------------------------------|---------|-----------------------------------------|-------------------------------|
|                                                  | July                  30,2005             |    |                                    | July                  31,2004 |   | July                  30,2005 |   |   | July                  31,2004 |   |
| Numerator:                  Net (loss) earnings       | $                                         | (79,411 | )                                       |                          | $ | 10,220 |   | $ | (66,941 | ) |   | $ | 35,260 |   |
| Denominators                (000’s):            |                                      |    |                                    |                          |   |   |   |   |   |   |   |   |   |   |
| Average                  shares outstanding - Basic   |                                      | 27,812  |                                    |                          |   | 27,585 |   |   | 27,785 |   |   |   | 27,336 |   |
|                                                  |                                      |    |                                    |                          |   |   |   |   |   |   |   |   |   |   |
| Impact                  of stock options              |                                      | — |                                    |                          |   | 565 |   |   | — |   |   |   | 654 |   |
|                                                  |                                      |    |                                    |                          |   |   |   |   |   |   |   |   |   |   |
| Average                  shares outstanding - Diluted |                                      | 27,812  |                                    |                          |   | 28,150 |   |   | 27,785 |   |   |   | 27,990 |   |
|                                                  |                                      |    |                                    |                          |   |   |   |   |   |   |   |   |   |   |
| Basic                  (loss) earnings per share      | $                                         | (2.86   | )                                       |                          | $ | .37 |   | $ | (2.41 | ) |   | $ | 1.29 |   |
|                                                  |                                      |    |                                    |                          |   |   |   |   |   |   |   |   |   |   |
| Diluted                  (loss) earnings per share    | $                                         | (2.86   | )                                       |                          | $ | .36 |   | $ | (2.41 | ) |   | $ | 1.26 |   |

----

**Note        11. Reportable segments.**

|   | · | Women’s                  Sportswear |
|--------|--------|-------------------------------------------|

|   | · | Men’s                  Sportswear |
|--------|--------|-----------------------------------------|

|   | · | Other                  Soft Goods |
|--------|--------|-----------------------------------|

|   | · | General                  Corporate |
|--------|--------|------------------------------------|

----

|                                                                         |   |  Three                  months ended |     |  Six                  months ended |   |
|------------------------------------------------------------------------------|--------|-------------------------------------------|----------|-----------------------------------------|--------|
|                                                                         |   |  July                  30,2005       |     |  July                  31,2004     |   |  July                  30,2005 |   |  July                  31,2004 |   |
| Net                  sales:                                                  |   |                                      |     |                                    |   |   |   |   |   |
| Women’s                  Sportswear                                    |   | $                                         | 297,169  |                                    | $      | 319,555 |   | $ | 657,216 |   | $ | 757,531 |   |
| Men’s                  Sportswear                                      |   |                                      | 154,251  |                                    |   | 139,613 |   |   | 318,767 |   |   | 267,770 |   |
| Other                  Soft Goods                                            |   |                                      | 110,417  |                                    |   | 101,299 |   |   | 225,232 |   |   | 221,269 |   |
| Kellwood                  net sales                                          |   | $                                         | 561,837  |                                    | $      | 560,467 |   | $ | 1,201,215 |   | $ | 1,246,570 |   |
|                                                                         |   |                                      |     |                                    |   |   |   |   |   |   |   |   |   |
| Segment                  (loss) earnings:                                    |   |                                      |     |                                    |   |   |   |   |   |   |   |   |   |
| Women’s                  Sportswear                                    |   | $                                         | (8,890   | )                                       | $      | 18,541 |   | $ | 10,418 |   | $ | 60,792 |   |
| Men’s                  Sportswear                                      |   |                                      | (9,025   | )                                       |   | 14,472 |   |   | 2,774 |   |   | 25,153 |   |
| Other                  Soft Goods                                            |   |                                      | (21,209  | )                                       |   | 3,274 |   |   | (13,762 | ) |   | 10,555 |   |
| General                  Corporate                                           |   |                                      | (12,207  | )                                       |   | (11,220 | ) |   | (22,767 | ) |   | (23,776 | ) |
| Total                  segments                                              |   |                                      | (51,331  | )                                       |   | 25,067 |   |   | (23,337 | ) |   | 72,724 |   |
|                                                                         |   |                                      |     |                                    |   |   |   |   |   |   |   |   |   |
| Amortization                  of intangible assets                           |   |                                      | 3,206    |                                    |   | 3,465 |   |   | 6,407 |   |   | 6,931 |   |
| Impairment,                  restructuring and related non-recurring charges |   |                                      | 71,862   |                                    |   | — |   |   | 71,862 |   |   | — |   |
| Interest                  expense, net                                       |   |                                      | 5,911    |                                    |   | 6,752 |   |   | 12,545 |   |   | 13,039 |   |
| Other                  (income) and expense, net                             |   |                                      | (334     | )                                       |   | (694 | ) |   | (513 | ) |   | (873 | ) |
| (Loss)                  earnings before income taxes                         |   | $                                         | (131,976 | )                                       | $      | 15,544 |   | $ | (113,638 | ) | $ | 53,627 |   |
|                                                                         |   |                                      |     |                                    |   |   |   |   |   |   |   |   |   |
| Net                  assets at quarter-end:                                  |   |                                      |     |                                    |   |   |   |   |   |   |   |   |   |
| Women’s                  Sportswear                                    |   | $                                         | 265,050  |                                    | $      | 253,892 |   |   |   |   |   |   |   |
| Men’s                  Sportswear                                      |   |                                      | 251,400  |                                    |   | 207,830 |   |   |   |   |   |   |   |
| Other                  Soft Goods                                            |   |                                      | 64,762   |                                    |   | 87,016 |   |   |   |   |   |   |   |
| General                  Corporate                                           |   |                                      | 68,609   |                                    |   | 146,848 |   |   |   |   |   |   |   |
| Continuing                  Operations                                       |   |                                      | 649,821  |                                    |   | 695,586 |   |   |   |   |   |   |   |
| Discontinued                  Operations                                     |   |                                      | (350     | )                                       |   | (1,813 | ) |   |   |   |   |   |   |
| Kellwood                  total                                              |   | $                                         | 649,471  |                                    | $      | 693,773 |   |   |   |   |   |   |   |

----

**Note        12. New accounting standards. **
*Accounting        for Stock Issued to Employees,*
*Accounting        for Stock-Based Compensation-Transition and Disclosure.*

*Inventory        Costs, an amendment of ARB No. 43, Chapter 4, *

----

**Note        13. Condensed consolidating financial information.**

**Condensed        Consolidating Balance Sheet**

**July        30, 2005**

| ASSETS                                                                  |   | Kellwood                  Company (Parent)  |       |   | SubsidiaryGuarantors  |   |      |  SubsidiaryNon-Guarantors  |   |   |  ConsolidatingAdjustments  |   |   |  ConsolidatedTotal  |       |
|-------------------------------------------------------------------------|--------|--------------------------------------------------|------------|--------|----------------------------|--------|-----------|--------------------------------------|--------|--------|--------------------------------------|--------|--------|-------------------------------|------------|
| Current                assets:                                          |   |                                             |       |   |                       |   |      |                                 |   |   |                                 |   |   |                          |       |   |   |   |   |   |
| Cash                  and cash equivalents                              |        | $                                                | 188,568    |   |                            | $      | 2,656     |                                 |        | $      | 101,946                              |   |        | $                             | —    |   |  | $ | 293,170 |   |
| Receivables,                  net                                       |   |                                             | 85,007     |   |                       |   | 269,657   |                                 |   |   | 20,701                               |   |   |                          | —    |   |   |   | 375,365 |   |
| Inventories                                                             |   |                                             | 150,700    |   |                       |   | 72,598    |                                 |   |   | 59,218                               |   |   |                          | —    |   |   |   | 282,516 |   |
| Current                  deferred taxes and prepaid expenses            |   |                                             | 66,228     |   |                       |   | 3,109     |                                 |   |   | 4,138                                |   |   |                          | —    |   |   |   | 73,475 |   |
| Total                  current assets                                   |   |                                             | 490,503    |   |                       |   | 348,020   |                                 |   |   | 186,003                              |   |   |                          | —    |   |   |   | 1,024,526 |   |
| Property,                  plant and equipment, net                     |   |                                             | 38,125     |   |                       |   | 12,043    |                                 |   |   | 31,665                               |   |   |                          | —    |   |   |   | 81,833 |   |
| Intercompany                  (payable) receivable                      |   |                                             | (1,008,976 | )      |                       |   | 961,376   |                                 |   |   | 47,600                               |   |   |                          | —    |   |   |   | — |   |
| Intangible                  assets, net                                 |   |                                             | 2,843      |   |                       |   | 162,421   |                                 |   |   | —                              |   |   |                          | —    |   |   |   | 165,264 |   |
| Goodwill                                                                |   |                                             | 5,344      |   |                       |   | 189,997   |                                 |   |   | —                              |   |   |                          | —    |   |   |   | 195,341 |   |
| Investments                  in subsidiaries                            |   |                                             | 1,317,983  |   |                       |   | 722       |                                 |   |   | —                              |   |   |                          | (1,318,705 | ) |   |   | — |   |
| Other                  assets                                           |   |                                             | 21,217     |   |                       |   | 2,734     |                                 |   |   | 4,632                                |   |   |                          | —    |   |   |   | 28,583 |   |
| Total                  assets                                           |        | $                                                | 867,039    |   |                            | $      | 1,677,313 |                                 |        | $      | 269,900                              |   |        | $                             | (1,318,705 | ) |  | $ | 1,495,547 |   |
|                                                                    |   |                                             |       |   |                       |   |      |                                 |   |   |                                 |   |   |                          |       |   |   |   |   |   |
| LIABILITIES                AND SHAREOWNERS’                EQUITY |   |                                             |       |   |                       |   |      |                                 |   |   |                                 |   |   |                          |       |   |   |   |   |   |
| Current                  liabilities:                                   |   |                                             |       |   |                       |   |      |                                 |   |   |                                 |   |   |                          |       |   |   |   |   |   |
| Current                  portion of long-term debt                      |        | $                                                | —    |   |                            | $      | 33        |                                 |        | $      | —                              |   |        | $                             | —    |   |  | $ | 33 |   |
| Accounts                  payable                                       |   |                                             | 96,301     |   |                       |   | 53,114    |                                 |   |   | 37,944                               |   |   |                          | —    |   |   |   | 187,359 |   |
| Other                  accrued expenses                                 |   |                                             | 70,147     |   |                       |   | 25,005    |                                 |   |   | 25,388                               |   |   |                          | —    |   |   |   | 120,540 |   |
| Total                  current liabilities                              |   |                                             | 166,448    |   |                       |   | 78,152    |                                 |   |   | 63,332                               |   |   |                          | —    |   |   |   | 307,932 |   |
| Long-term                  debt                                         |   |                                             | 469,729    |   |                       |   | —   |                                 |   |   | —                              |   |   |                          | —    |   |   |   | 469,729 |   |
| Deferred                  income taxes and other                        |   |                                             | 53,686     |   |                       |   | 14,582    |                                 |   |   | 147                                  |   |   |                          | —    |   |   |   | 68,415 |   |
| Shareowners’                  equity                              |   |                                             | 177,176    |   |                       |   | 1,584,579 |                                 |   |   | 206,421                              |   |   |                          | (1,318,705 | ) |   |   | 649,471 |   |
| Total                  liabilities and shareowners’ equity        |        | $                                                | 867,039    |   |                            | $      | 1,677,313 |                                 |        | $      | 269,900                              |   |        | $                             | (1,318,705 | ) |  | $ | 1,495,547 |   |

----

**Condensed        Consolidating Balance Sheet**

**July        31, 2004**

| ASSETS                                                           |   | KellwoodCompany(Parent) |      | Subsidiary                  Guarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|------------------------------------------------------------------|--------|-------------------------|-----------|----------------------------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| Current                  assets:                                 |   |                    |      |                                   |   |                     |   |                     |    |              |   |
| Cash                  and cash equivalents                       |   | $                       | 228,482   |                                   | $      | 4,318                    |   | $                        | 29,708  |              | $      | — |   | $ | 262,508 |   |
| Receivables,                  net                                |   |                    | 53,531    |                                   |   | 266,851                  |   |                     | 21,438  |              |   | — |   |   | 341,820 |   |
| Inventories                                                      |   |                    | 183,780   |                                   |   | 94,243                   |   |                     | 68,738  |              |   | — |   |   | 346,761 |   |
| Current                  deferred taxes and prepaid expenses     |   |                    | 60,781    |                                   |   | 2,495                    |   |                     | 6,496   |              |   | — |   |   | 69,772 |   |
| Total                  current assets                            |   |                    | 526,574   |                                   |   | 367,907                  |   |                     | 126,380 |              |   | — |   |   | 1,020,861 |   |
| Property,                  plant and equipment, net              |   |                    | 51,393    |                                   |   | 14,113                   |   |                     | 30,239  |              |   | — |   |   | 95,745 |   |
| Intercompany                  (payable) receivable               |   |                    | (888,781  | )                                      |   | 818,923                  |   |                     | 69,858  |              |   | — |   |   | — |   |
| Intangible                  assets, net                          |   |                    | 10,748    |                                   |   | 213,072                  |   |                     | 13      |              |   | — |   |   | 223,833 |   |
| Goodwill                                                         |   |                    | 5,343     |                                   |   | 180,165                  |   |                     | — |              |   | — |   |   | 185,508 |   |
| Investments                  in subsidiaries                     |   |                    | 1,233,123 |                                   |   | 1,326                    |   |                     | — |              |   | (1,234,449 | ) |   | — |   |
| Other                  assets                                    |   |                    | 30,411    |                                   |   | 2,681                    |   |                     | 3,965   |              |   | — |   |   | 37,057 |   |
| Total                  assets                                    |   | $                       | 968,811   |                                   | $      | 1,598,187                |   | $                        | 230,455 |              | $      | (1,234,449 | ) | $ | 1,563,004 |   |
|                                                             |   |                    |      |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| LIABILITIES                  AND SHAREOWNERS’ EQUITY       |   |                    |      |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Current                  liabilities:                            |   |                    |      |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Current                  portion of long-term debt               |   | $                       | 49        |                                   | $      | 203                      |   | $                        | — |              | $      | — |   | $ | 252 |   |
| Accounts                  payable                                |   |                    | 110,822   |                                   |   | 65,381                   |   |                     | 31,131  |              |   | — |   |   | 207,334 |   |
| Other                  accrued expenses                          |   |                    | 70,917    |                                   |   | 23,827                   |   |                     | 19,933  |              |   | — |   |   | 114,677 |   |
| Total                  current liabilities                       |   |                    | 181,788   |                                   |   | 89,411                   |   |                     | 51,064  |              |   | — |   |   | 322,263 |   |
| Long-term                  debt                                  |   |                    | 469,577   |                                   |   | 76                       |   |                     | — |              |   | — |   |   | 469,653 |   |
| Deferred                  income taxes and other                 |   |                    | 59,370    |                                   |   | 16,310                   |   |                     | 1,635   |              |   | — |   |   | 77,315 |   |
| Shareowners’                  equity                       |   |                    | 258,076   |                                   |   | 1,492,390                |   |                     | 177,756 |              |   | (1,234,449 | ) |   | 693,773 |   |
| Total                  liabilities and shareowners’ equity |   | $                       | 968,811   |                                   | $      | 1,598,187                |   | $                        | 230,455 |              | $      | (1,234,449 | ) | $ | 1,563,004 |   |

----

**Condensed        Consolidating Balance Sheet**

**January        29, 2005**

| ASSETS                                                           |   | KellwoodCompany(Parent) |      | SubsidiaryGuarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|------------------------------------------------------------------|--------|-------------------------|-----------|----------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| Current                  assets:                                 |   |                    |      |                 |   |                     |   |                     |    |              |   |
| Cash                  and cash equivalents                       |   | $                       | 226,294   |                 | $      | 3,278                    |   | $                        | 31,823  |              | $      | — |   | $ | 261,395 |   |
| Receivables,                  net                                |   |                    | 85,408    |                 |   | 274,890                  |   |                     | 21,399  |              |   | — |   |   | 381,697 |   |
| Inventories                                                      |   |                    | 182,270   |                 |   | 80,553                   |   |                     | 68,779  |              |   | — |   |   | 331,602 |   |
| Current                  deferred taxes and prepaid expenses     |   |                    | 47,262    |                 |   | 3,525                    |   |                     | 4,433   |              |   | — |   |   | 55,220 |   |
| Total                  current assets                            |   |                    | 541,234   |                 |   | 362,246                  |   |                     | 126,434 |              |   | — |   |   | 1,029,914 |   |
| Property,                  plant and equipment, net              |   |                    | 50,862    |                 |   | 14,045                   |   |                     | 30,900  |              |   | — |   |   | 95,807 |   |
| Intercompany                  (payable) receivable               |   |                    | (940,581  | )                    |   | 859,671                  |   |                     | 80,910  |              |   | — |   |   | — |   |
| Intangible                  assets, net                          |   |                    | 10,908    |                 |   | 181,050                  |   |                     | — |              |   | — |   |   | 191,958 |   |
| Goodwill                                                         |   |                    | 5,344     |                 |   | 218,638                  |   |                     | — |              |   | — |   |   | 223,982 |   |
| Investments                  in subsidiaries                     |   |                    | 1,391,231 |                 |   | 245                      |   |                     | — |              |   | (1,391,476 | ) |   | — |   |
| Other                  assets                                    |   |                    | 28,200    |                 |   | 2,828                    |   |                     | 5,613   |              |   | — |   |   | 36,641 |   |
| Total                  assets                                    |   | $                       | 1,087,198 |                 | $      | 1,638,723                |   | $                        | 243,857 |              | $      | (1,391,476 | ) | $ | 1,578,302 |   |
|                                                             |   |                    |      |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| LIABILITIES                  AND SHAREOWNERS’ EQUITY       |   |                    |      |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Current                  liabilities:                            |   |                    |      |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Current                  portion of long-term debt               |   | $                       | —   |                 | $      | 149                      |   | $                        | — |              | $      | — |   | $ | 149 |   |
| Accounts                  payable                                |   |                    | 97,286    |                 |   | 50,952                   |   |                     | 27,614  |              |   | — |   |   | 175,852 |   |
| Other                  accrued expenses                          |   |                    | 75,417    |                 |   | 34,531                   |   |                     | 24,198  |              |   | — |   |   | 134,146 |   |
| Total                  current liabilities                       |   |                    | 172,703   |                 |   | 85,632                   |   |                     | 51,812  |              |   | — |   |   | 310,147 |   |
| Long-term                  debt                                  |   |                    | 469,652   |                 |   | 5                        |   |                     | — |              |   | — |   |   | 469,657 |   |
| Deferred                  income taxes and other                 |   |                    | 63,530    |                 |   | 13,842                   |   |                     | 150     |              |   | — |   |   | 77,522 |   |
| Shareowners’                  equity                       |   |                    | 381,313   |                 |   | 1,539,244                |   |                     | 191,895 |              |   | (1,391,476 | ) |   | 720,976 |   |
| Total                  liabilities and shareowners’ equity |   | $                       | 1,087,198 |                 | $      | 1,638,723                |   | $                        | 243,857 |              | $      | (1,391,476 | ) | $ | 1,578,302 |   |

----

**Condensed        Consolidating Statement of Operations**

**Three        Months Ended July 30, 2005**

|                                                                         |   | KellwoodCompany(Parent) |     | SubsidiaryGuarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|------------------------------------------------------------------------------|--------|-------------------------|----------|----------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| Net                  sales                                                   |   | $                       | 321,574  |                 | $      | 198,032                  |   | $                        | 143,191 |              | $      | (100,960 | ) | $ | 561,837 |   |
| Costs                  and expenses:                                         |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Cost                  of products sold                                       |   |                    | 336,612  |                 |   | 156,508                  |   |                     | 125,711 |              |   | (100,520 | ) |   | 518,311 |   |
| SG&A                                                                     |   |                    | 55,424   |                 |   | 29,198                   |   |                     | 10,675  |              |   | (440 | ) |   | 94,857 |   |
| Amortization                  of intangible assets                           |   |                    | 443      |                 |   | 2,763                    |   |                     | — |              |   | — |   |   | 3,206 |   |
| Impairment,                  restructuring and related non-recurring charges |   |                    | 69,746   |                 |   | 1,859                    |   |                     | 257     |              |   | — |   |   | 71,862 |   |
| Interest                  expense, net                                       |   |                    | 6,456    |                 |   | (5                       | )      |                     | (540    | )                 |   | — |   |   | 5,911 |   |
| Intercompany                  interest expense, net                          |   |                    | 1,721    |                 |   | (1,721                   | )      |                     | — |              |   | — |   |   | — |   |
| Other                  (income) and expense, net                             |   |                    | (104     | )                    |   | 28                       |   |                     | (258    | )                 |   | — |   |   | (334 | ) |
| Intercompany                  other (income)/expense, net                    |   |                    | 8,636    |                 |   | (8,636                   | )      |                     | — |              |   | — |   |   | — |   |
| (Loss)                  earnings before income taxes                         |   |                    | (157,360 | )                    |   | 18,038                   |   |                     | 7,346   |              |   | — |   |   | (131,976 | ) |
| Income                  taxes                                                |   |                    | (55,970  | )                    |   | 2,203                    |   |                     | 1,202   |              |   | — |   |   | (52,565 | ) |
| Equity                  in earnings of subsidiaries                          |   |                    | 24,862   |                 |   | (496                     | )      |                     | — |              |   | (24,366 | ) |   | — |   |
| Net                  (loss) earnings                                         |   | $                       | (76,528  | )                    | $      | 15,339                   |   | $                        | 6,144   |              | $      | (24,366 | ) | $ | (79,411 | ) |

**Condensed        Consolidating Statement of Operations**

**Three        Months Ended July 31, 2004**

|                                                      |   | KellwoodCompany(Parent) |    | SubsidiaryGuarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|-----------------------------------------------------------|--------|-------------------------|---------|----------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| Net                  sales                                |   | $                       | 299,902 |                 | $      | 216,106                  |   | $                        | 128,437 |              | $      | (83,978 | ) | $ | 560,467 |   |
| Costs                  and expenses:                      |   |                    |    |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Cost                  of products sold                    |   |                    | 240,517 |                 |   | 166,995                  |   |                     | 112,540 |              |   | (83,978 | ) |   | 436,074 |   |
| SG&A                                                  |   |                    | 53,426  |                 |   | 34,367                   |   |                     | 11,533  |              |   | — |   |   | 99,326 |   |
| Amortization                  of intangible assets        |   |                    | 471     |                 |   | 2,981                    |   |                     | 13      |              |   | — |   |   | 3,465 |   |
| Interest                  expense, net                    |   |                    | 6,795   |                 |   | (267                     | )      |                     | 224     |              |   | — |   |   | 6,752 |   |
| Intercompany                  interest expense, net       |   |                    | 844     |                 |   | (844                     | )      |                     | — |              |   | — |   |   | — |   |
| Other                  (income) and expense, net          |   |                    | 61      |                 |   | (98                      | )      |                     | (657    | )                 |   | — |   |   | (694 | ) |
| Intercompany                  other (income)/expense, net |   |                    | 9,768   |                 |   | (9,768                   | )      |                     | — |              |   | — |   |   | — |   |
| Earnings                  before income taxes             |   |                    | (11,980 | )                    |   | 22,740                   |   |                     | 4,784   |              |   | — |   |   | 15,544 |   |
| Income                  taxes                             |   |                    | (4,557  | )                    |   | 8,650                    |   |                     | 1,231   |              |   | — |   |   | 5,324 |   |
| Equity                  in earnings of subsidiaries       |   |                    | 17,643  |                 |   | 385                      |   |                     | — |              |   | (18,028 | ) |   | — |   |
| Net                  earnings                             |   | $                       | 10,220  |                 | $      | 14,475                   |   | $                        | 3,553   |              | $      | (18,028 | ) | $ | 10,220 |   |

----

**Condensed        Consolidating Statement of Operations**

**Six        Months Ended July 30, 2005**

|                                                                         |   | KellwoodCompany(Parent) |     | SubsidiaryGuarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|------------------------------------------------------------------------------|--------|-------------------------|----------|----------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| Net                  sales                                                   |   | $                       | 675,148  |                 | $      | 432,860                  |   | $                        | 302,357 |              | $      | (209,150 | ) | $ | 1,201,215 |   |
| Costs                  and expenses:                                         |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Cost                  of products sold                                       |   |                    | 632,068  |                 |   | 335,985                  |   |                     | 263,635 |              |   | (208,121 | ) |   | 1,023,567 |   |
| SG&A                                                                     |   |                    | 111,542  |                 |   | 68,211                   |   |                     | 22,261  |              |   | (1,029 | ) |   | 200,985 |   |
| Amortization                  of intangible assets                           |   |                    | 888      |                 |   | 5,519                    |   |                     | — |              |   | — |   |   | 6,407 |   |
| Impairment,                  restructuring and related non-recurring charges |   |                    | 69,746   |                 |   | 1,859                    |   |                     | 257     |              |   | — |   |   | 71,862 |   |
| Interest                  expense, net                                       |   |                    | 13,273   |                 |   | (86                      | )      |                     | (642    | )                 |   | — |   |   | 12,545 |   |
| Intercompany                  interest expense, net                          |   |                    | 3,016    |                 |   | (3,016                   | )      |                     | — |              |   | — |   |   | — |   |
| Other                  (income) and expense, net                             |   |                    | (113     | )                    |   | 32                       |   |                     | (432    | )                 |   | — |   |   | (513 | ) |
| Intercompany                  other (income)/expense, net                    |   |                    | 20,599   |                 |   | (20,599                  | )      |                     | — |              |   | — |   |   | — |   |
| (Loss)                  earnings before income taxes                         |   |                    | (175,871 | )                    |   | 44,955                   |   |                     | 17,278  |              |   | — |   |   | (113,638 | ) |
| Income                  taxes                                                |   |                    | (63,636  | )                    |   | 13,350                   |   |                     | 3,589   |              |   | — |   |   | (46,697 | ) |
| Equity                  in earnings of subsidiaries                          |   |                    | 48,177   |                 |   | 477                      |   |                     | — |              |   | (48,654 | ) |   | — |   |
| Net                  (loss) earnings                                         |   | $                       | (64,058  | )                    | $      | 32,082                   |   | $                        | 13,689  |              | $      | (48,654 | ) | $ | (66,941 | ) |

**Condensed        Consolidating Statement of Operations**

**Six        Months Ended July 31, 2004**

|                                                      |   | Kellwood                  Company (Parent) |    | Subsidiary                  Guarantors |   | SubsidiaryNon-Guarantors |   | Consolidating                  Adjustments |    | ConsolidatedTotal |   |
|-----------------------------------------------------------|--------|--------------------------------------------|---------|----------------------------------------|--------|--------------------------|--------|--------------------------------------------|---------|-------------------|--------|
| Net                  sales                                |   | $                                          | 658,826 |                                   | $      | 497,726                  |   | $                                          | 263,317 |              | $      | (173,299 | ) | $ | 1,246,570 |   |
| Costs                  and expenses:                      |   |                                       |    |                                   |   |                     |   |                                       |    |              |   |   |   |   |   |   |
| Cost                  of products sold                    |   |                                       | 533,868 |                                   |   | 378,684                  |   |                                       | 228,359 |              |   | (173,299 | ) |   | 967,612 |   |
| SG&A                                                  |   |                                       | 110,216 |                                   |   | 72,012                   |   |                                       | 24,006  |              |   | — |   |   | 206,234 |   |
| Amortization                  of intangible assets        |   |                                       | 942     |                                   |   | 5,965                    |   |                                       | 24      |              |   | — |   |   | 6,931 |   |
| Interest                  expense, net                    |   |                                       | 13,155  |                                   |   | (586                     | )      |                                       | 470     |              |   | — |   |   | 13,039 |   |
| Intercompany                  interest expense, net       |   |                                       | 1,538   |                                   |   | (1,538                   | )      |                                       | — |              |   | — |   |   | — |   |
| Other                  (income) and expense, net          |   |                                       | 102     |                                   |   | (36                      | )      |                                       | (939    | )                 |   | — |   |   | (873 | ) |
| Intercompany                  other (income)/expense, net |   |                                       | 23,664  |                                   |   | (23,664                  | )      |                                       | — |              |   | — |   |   | — |   |
| Earnings                  before income taxes             |   |                                       | (24,659 | )                                      |   | 66,889                   |   |                                       | 11,397  |              |   | — |   |   | 53,627 |   |
| Income                  taxes                             |   |                                       | (9,109  | )                                      |   | 24,498                   |   |                                       | 2,978   |              |   | — |   |   | 18,367 |   |
| Equity                  in earnings of subsidiaries       |   |                                       | 50,810  |                                   |   | 393                      |   |                                       | — |              |   | (51,203 | ) |   | — |   |
| Net                  earnings                             |   | $                                          | 35,260  |                                   | $      | 42,784                   |   | $                                          | 8,419   |              | $      | (51,203 | ) | $ | 35,260 |   |

----

**Condensed        Consolidating Statement of Cash Flows**

**Six        Months Ended July 30, 2005**

|                                                                     |   | KellwoodCompany(Parent) |    | Subsidiary                  Guarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|--------------------------------------------------------------------------|--------|-------------------------|---------|----------------------------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| **Net                  cash provided by (used in) operating activities** |   | $                       | (17,328 | )                                      | $      | 59,162                   |   | $                        | 40,865  |              | $      | (26,008 | ) | $ | 56,691 |   |
|                                                                     |   |                    |    |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| **Investing                  activities:**                               |   |                    |    |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Additions                  to property, plant and equipment              |   |                    | (4,923  | )                                      |   | (823                     | )      |                     | (5,016  | )                 |   | — |   |   | (10,762 | ) |
| Acquisitions,                  net of cash acquired                      |   |                    | (12,178 | )                                      |   | —                  |   |                     | — |              |   | — |   |   | (12,178 | ) |
| Subordinated                  note receivable                            |   |                    | 2,063   |                                   |   | —                  |   |                     | — |              |   | — |   |   | 2,063 |   |
| Dispositions                  of fixed assets                            |   |                    | 4       |                                   |   | 357                      |   |                     | 964     |              |   | — |   |   | 1,325 |   |
| Net                  cash used in investing activities                   |   |                    | (15,034 | )                                      |   | (466                     | )      |                     | (4,052  | )                 |   | — |   |   | (19,552 | ) |
|                                                                     |   |                    |    |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| **Financing                  activities:**                               |   |                    |    |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Dividends                  paid                                          |   |                    | (8,895  | )                                      |   | —                  |   |                     | — |              |   | — |   |   | (8,895 | ) |
| Stock                  transactions under incentive plans                |   |                    | 3,531   |                                   |   | —                  |   |                     | — |              |   | — |   |   | 3,531 |   |
| Intercompany                  dividends                                  |   |                    | — |                                   |   | (59,318                  | )      |                     | 33,310  |              |   | 26,008 |   |   | — |   |
| Net                  cash (used in) provided by financing activities     |   |                    | (5,364  | )                                      |   | (59,318                  | )      |                     | 33,310  |              |   | 26,008 |   |   | (5,364 | ) |
|                                                                     |   |                    |    |                                   |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Net                  change in cash and cash equivalents                 |   |                    | (37,726 | )                                      |   | (622                     | )      |                     | 70,123  |              |   | — |   |   | 31,775 |   |
| Cash                  and cash equivalents, beginning of period          |   |                    | 226,294 |                                   |   | 3,278                    |   |                     | 31,823  |              |   | — |   |   | 261,395 |   |
| Cash                  and cash equivalents, end of period                |   | $                       | 188,568 |                                   | $      | 2,656                    |   | $                        | 101,946 |              | $      | — |   | $ | 293,170 |   |

----

**Condensed        Consolidating Statement of Cash Flows**

**Six        Months Ended July 31, 2004**

|                                                                     |   | KellwoodCompany(Parent) |     | SubsidiaryGuarantors |   | SubsidiaryNon-Guarantors |   | ConsolidatingAdjustments |    | ConsolidatedTotal |   |
|--------------------------------------------------------------------------|--------|-------------------------|----------|----------------------|--------|--------------------------|--------|--------------------------|---------|-------------------|--------|
| **Net                  cash provided by (used in) operating activities** |   | $                       | 38,071   |                 | $      | 49,471                   |   | $                        | (8,897  | )                 | $      | (39,668 | ) | $ | 38,977 |   |
|                                                                     |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| **Investing                  activities:**                               |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Additions                  to property, plant and equipment              |   |                    | (6,677   | )                    |   | (822                     | )      |                     | (5,453  | )                 |   | — |   |   | (12,952 | ) |
| Acquisitions,                  net of cash acquired                      |   |                    | (143,337 | )                    |   | —                  |   |                     | — |              |   | — |   |   | (143,337 | ) |
| Subordinated                  note receivable                            |   |                    | 1,375    |                 |   | —                  |   |                     | — |              |   | — |   |   | 1,375 |   |
| Dispositions                  of fixed assets                            |   |                    | 111      |                 |   | —                  |   |                     | 91      |              |   | — |   |   | 202 |   |
| Net                  cash (used in) provided by investing activities     |   |                    | (148,528 | )                    |   | (822                     | )      |                     | (5,362  | )                 |   | — |   |   | (154,712 | ) |
|                                                                     |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| **Financing                  activities:**                               |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Borrowings                  of long-term debt, net of financing costs    |   |                    | 195,390  |                 |   | —                  |   |                     | — |              |   | — |   |   | 195,390 |   |
| Repayments                  of long-term debt                            |   |                    | (4,448   | )                    |   | —                  |   |                     | — |              |   | — |   |   | (4,448 | ) |
| Dividends                  paid                                          |   |                    | (8,758   | )                    |   | —                  |   |                     | — |              |   | — |   |   | (8,758 | ) |
| Stock                  transactions under incentive plans                |   |                    | 16,904   |                 |   | —                  |   |                     | — |              |   | — |   |   | 16,904 |   |
| Intercompany                  dividends                                  |   |                    | —  |                 |   | (45,987                  | )      |                     | 6,319   |              |   | 39,668 |   |   | — |   |
| Net                  cash provided by (used in) financing activities     |   |                    | 199,088  |                 |   | (45,987                  | )      |                     | 6,319   |              |   | 39,668 |   |   | 199,088 |   |
|                                                                     |   |                    |     |                 |   |                     |   |                     |    |              |   |   |   |   |   |   |
| Net                  change in cash and cash equivalents                 |   |                    | 88,631   |                 |   | 2,662                    |   |                     | (7,940  | )                 |   | — |   |   | 83,353 |   |
| Cash                  and cash equivalents, beginning of period          |   |                    | 139,851  |                 |   | 1,656                    |   |                     | 37,648  |              |   | — |   |   | 179,155 |   |
| Cash                  and cash equivalents, end of period                |   | $                       | 228,482  |                 | $      | 4,318                    |   | $                        | 29,708  |              | $      | — |   | $ | 262,508 |   |

----

**Item          2. Management’s Discussion and Analysis of Financial          Condition and Results of Operations **

**OPERATING          RESULTS**

|     ·     | Exit                    Kellwood Private Label Menswear (which does not include the Company’s                    Smart Shirts subsidiary), Kellwood Intimate Apparel Group and                    Kellwood New                    England (in process);                                                                                                                                                                    |
|--------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                             |
|     ·                         | Restructure                    Kellwood’s Oakland Operation by exiting several labels to better focus                    on                    developing the Koret brand (in process); and                                                                                                                                                                                                                                |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                             |
|     ·                         | Reassess                    certain ongoing business operations for the appropriateness of                    the                    Company’s operations and support infrastructures and also perform a review                    of its assumptions regarding the future profitability and realizability                    of                    intangible assets of certain brands, labels and divisions (completed). |
|                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                             |

|                         |   | Three                    months ended |   | Six                    months ended |   |
|------------------------------|--------|---------------------------------------|--------|-------------------------------------|--------|
|                         |   | July                    30, 2005      |   | July                    31, 2004    |   | July                    30, 2005 |   | July                    31, 2004 |   |
| Net                    sales |   | $                                     | 78.8   |                                | $      | 78.0 |   | $ | 164.6 |   | $ | 161.3 |   |
| Net                    loss  |   | $                                     | (4.7   | )                                   | $      | (0.7 | ) | $ | (7.9 | ) | $ | (1.1 | ) |

----

|                                                           |   | 2005Provision |   |
|----------------------------------------------------------------|--------|---------------|--------|
| Inventory                    and Purchase Commitment Reserves  |   | $             | 56.3   |   |
| Fixed                    Asset Write-downs                     |   |          | 13.4   |   |
| Sales                    Allowances                            |   |          | 5.2    |   |
| Contractual                    Obligations                     |   |          | 4.5    |   |
| Employee                    Severance and Termination Benefits |   |          | 4.4    |   |
| Impairment                    of Intangible Assets             |   |          | 49.6   |   |
| Total                                                          |   | $             | 133.4  |   |

*Accounting          for the Impairment or Disposal of Long-Lived Assets*

*Goodwill          and Other Intangible Assets*

----

**Reconciliation          of Operating Results**

**Three          Months Ended July 30, 2005**

|                                                                           |   | OngoingBusinesses |    | Businesses                    to be Exitedand                    Non-RecurringCharges |   | Income                    TaxRepatriation |   | ConsolidatedKellwood |    |
|--------------------------------------------------------------------------------|--------|-------------------|---------|---------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|----------------------|---------|
| Net                    sales                                                   |   | $                 | 488.2   |                                                                                  | $      | 73.6                                      |   | $                    | — |   | $ | 561.8 |   |
| Cost                    of products sold                                       |   |              | 389.4   |                                                                                  |   | 129.0                                     |   |                 | — |   |   | 518.3 |   |
| SG&A                                                                       |   |              | 82.2    |                                                                                  |   | 12.6                                      |   |                 | — |   |   | 94.9 |   |
| Amortization                    of intangibles                                 |   |              | 2.8     |                                                                                  |   | 0.4                                       |   |                 | — |   |   | 3.2 |   |
| Impairment,                    restructuring and related non-recurring charges |   |              | — |                                                                                  |   | 71.9                                      |   |                 | — |   |   | 71.9 |   |
| Interest                    expense, net                                       |   |              | 5.9     |                                                                                  |   | —                                   |   |                 | — |   |   | 5.9 |   |
| Other                    (income) and expense, net                             |   |              | (0.3    | )                                                                                     |   | —                                   |   |                 | — |   |   | (0.3 | ) |
| Earnings                    (loss) before taxes                                |   |              | 8.3     |                                                                                  |   | (140.2                                    | )      |                 | — |   |   | (132.0 | ) |
| Income                    tax provision (benefit)                              |   |              | 2.6     |                                                                                  |   | (42.2                                     | )      |                 | (13.0   | ) |   | (52.6 | ) |
| Net                    earnings (loss)                                         |   | $                 | 5.6     |                                                                                  | $      | (98.0                                     | )      | $                    | 13.0    |   | $ | (79.4 | ) |
| Effective                    tax rate (benefit)                                |   |              | 32.0    | %                                                                                     |   | (30.1                                     | %)     |                 | NM      |   |   | (39.2 | %) |

**Three          Months Ended July 31, 2004**

|                                               |   | OngoingBusinesses |   | Businesses                    tobe                    Exited |   | Income                    TaxRepatriation |   | ConsolidatedKellwood |    |
|----------------------------------------------------|--------|-------------------|--------|--------------------------------------------------------------|--------|-------------------------------------------|--------|----------------------|---------|
|                                               |   |              |   |                                                         |   |                                      |   |                 |    |
| Net                    sales                       |   | $                 | 482.5  |                                                         | $      | 78.0                                      |   | $                    | — |   | $ | 560.5 |   |
| Cost                    of products sold           |   |              | 372.1  |                                                         |   | 64.0                                      |   |                 | — |   |   | 436.1 |   |
| SG&A                                           |   |              | 84.8   |                                                         |   | 14.5                                      |   |                 | — |   |   | 99.3 |   |
| Amortization                    of intangibles     |   |              | 3.1    |                                                         |   | 0.4                                       |   |                 | — |   |   | 3.5 |   |
| Interest                    expense, net           |   |              | 6.8    |                                                         |   | —                                   |   |                 | — |   |   | 6.8 |   |
| Other                    (income) and expense, net |   |              | (0.7   | )                                                            |   | —                                   |   |                 | — |   |   | (0.7 | ) |
| Earnings                    (loss) before taxes    |   |              | 16.5   |                                                         |   | (1.0                                      | )      |                 | — |   |   | 15.5 |   |
| Income                    tax provision (benefit)  |   |              | 5.7    |                                                         |   | (0.3                                      | )      |                 | — |   |   | 5.3 |   |
| Net                    earnings (loss)             |   | $                 | 10.9   |                                                         | $      | (0.7                                      | )      | $                    | — |   | $ | 10.2 |   |
| Effective                    tax rate (benefit)    |   |              | 34.3   | %                                                            |   | (34.3                                     | %)     |                 | NM      |   |   | 34.3 | % |

----

**Six          Months Ended July 30, 2005**

|                                                                           |   | OngoingBusinesses |                    | Businesses                    tobe                    Exited andNon-RecurringCharges |   | Income                    TaxRepatriation                    |   | ConsolidatedKellwood |                                      |
|--------------------------------------------------------------------------------|--------|-------------------|-------------------------|--------------------------------------------------------------------------------------|--------|--------------------------------------------------------------|--------|----------------------|-------------------------------------------|
| Net                    sales                                                   |   | $                 | 1,041.8                 |                                                                                 | $      | 159.4                                                        |   | $                    | —                                   |   | $ | 1,201.2 |   |
| Cost                    of products sold                                       |   |              | 818.8                   |                                                                                 |   | 204.8                                                        |   |                 | —                                   |   |   | 1,023.6 |   |
| SG&A                                                                       |   |              | 174.1                   |                                                                                 |   | 26.9                                                         |   |                 | —                                   |   |   | 201.0 |   |
| Amortization                    of intangibles                                 |   |              | 5.6                     |                                                                                 |   | 0.8                                                          |   |                 | —                                   |   |   | 6.4 |   |
| Impairment,                    restructuring and related non-recurring charges |   |              | —                 |                                                                                 |   | 71.9                                                         |   |                 | —                                   |   |   | 71.9 |   |
| Interest                    expense, net                                       |   |              | 12.5                    |                                                                                 |   | —                                                      |   |                 | —                                   |   |   | 12.5 |   |
| Other                    (income) and expense, net                             |   |              | (0.5                    | )                                                                                    |   | —                                                      |   |                 | —                                   |   |   | (0.5 | ) |
| Earnings                    (loss) before taxes                                |   |              | 31.3                    |                                                                                 |   | (144.9                                                       | )      |                 | —                                   |   |   | (113.6 | ) |
| Income                    tax provision (benefit)                              |   |              | 10.0                    |                                                                                 |   | (43.7                                                        | )      |                 | (13.0                                     | ) |   | (46.7 | ) |
| Net                    earnings (loss)                                         |   | $                 | 21.3                    |                                                                                 | $      | (101.2                                                       | )      | $                    | 13.0                                      |   | $ | (66.9 | ) |
| Effective                    tax rate (benefit)                                |   |              | 32.0                    | %                                                                                    |   | (30.2                                                        | %)     |                 | NM                                        |   |   | (40.3 | %) |
|                                                                           |   |              |                    |                                                                                 |   |                                                         |   |                 |                                      |   |   |   |   |
| **Six                    Months Ended July 31, 2004**                          |   |              |                    |                                                                                 |   |                                                         |   |                 |                                      |   |   |   |   |
|                                                                           |   |              |                    |                                                                                 |   |                                                         |   |                 |                                      |   |   |   |   |
|                                                                           |   |              | OngoingBusinesses  |                                                                                 |   | Businesses                    tobe                    Exited |   |                 | Income                    TaxRepatriation |   |   | ConsolidatedKellwood |   |
| Net                    sales                                                   |   | $                 | 1,085.2                 |                                                                                 | $      | 161.3                                                        |   | $                    | —                                   |   | $ | 1,246.6 |   |
| Cost                    of products sold                                       |   |              | 835.6                   |                                                                                 |   | 132.0                                                        |   |                 | —                                   |   |   | 967.6 |   |
| SG&A                                                                       |   |              | 176.0                   |                                                                                 |   | 30.3                                                         |   |                 | —                                   |   |   | 206.2 |   |
| Amortization                    of intangibles                                 |   |              | 6.1                     |                                                                                 |   | 0.8                                                          |   |                 | —                                   |   |   | 6.9 |   |
| Interest                    expense, net                                       |   |              | 13.0                    |                                                                                 |   | —                                                      |   |                 | —                                   |   |   | 13.0 |   |
| Other                    (income) and expense, net                             |   |              | (0.8                    | )                                                                                    |   | —                                                      |   |                 | —                                   |   |   | (0.9 | ) |
| Earnings                    (loss) before taxes                                |   |              | 55.4                    |                                                                                 |   | (1.7                                                         | )      |                 | —                                   |   |   | 53.6 |   |
| Income                    tax provision (benefit)                              |   |              | 19.0                    |                                                                                 |   | (0.6                                                         | )      |                 | —                                   |   |   | 18.4 |   |
| Net                    earnings (loss)                                         |   | $                 | 36.4                    |                                                                                 | $      | (1.1                                                         | )      | $                    | —                                   |   | $ | 35.3 |   |
| Effective                    tax rate (benefit)                                |   |              | 34.3                    | %                                                                                    |   | (34.3                                                        | %)     |                 | NM                                        |   |   | 34.3 | % |

----

**Ongoing          Operations: **

|                                                          |   |                                                                                           Three months                    ended                                        |                                                       Six months                    ended                                                        |
|---------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                          |   | July                    30, 2005                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  July                    31, 2004  |   |   | Percent                             Change          | July                    30,2005 |   | July                    31,2004 |   |   | PercentChange |
| Net                    sales                                  |   | $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 488.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | $ | 482.5 |   |   | 1.2 | % | $ | 1,041.8 |   | $ | 1,085.2 |   |   | (4.0 | %) |
| Cost                    of products sold                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 389.4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 372.1 |   |   | 4.6 | % |   | 818.8 |   |   | 835.6 |   |   | (2.0 | %) |
| Gross                    profit                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 98.9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 110.4 |   |   | (10.5 | %) |   | 223.0 |   |   | 249.6 |   |   | (10.7 | %) |
| SG&A                                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 82.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 84.8 |   |   | (3.0 | %) |   | 174.1 |   |   | 176.0 |   |   | (1.0 | %) |
| Operating                    earnings before amortization (1) |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 16.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 25.7 |   |   | (35.1 | %) |   | 48.9 |   |   | 73.7 |   |   | (33.6 | %) |
| Amortization                    of intangibles                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 2.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 3.1 |   |   | (8.5 | %) |   | 5.6 |   |   | 6.1 |   |   | (8.6 | %) |
| Operating                    earnings                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 13.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 22.6 |   |   | (38.8 | %) |   | 43.3 |   |   | 67.6 |   |   | (35.9 | %) |
| Interest                    expense, net                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 5.9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 6.8 |   |   | (12.5 | %) |   | 12.5 |   |   | 13.0 |   |   | (3.8 | %) |
| Other                    (income) and expense, net            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (0.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | ) |   | (0.7 | ) |   | (51.8 | %) |   | (0.5 | ) |   | (0.8 | ) |   | (39.1 | %) |
| Earnings                    before taxes                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 8.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 16.5 |   |   | (50.0 | %) |   | 31.3 |   |   | 55.4 |   |   | (43.5 | %) |
| Income                    taxes                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 2.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 5.7 |   |   | (53.3 | %) |   | 10.0 |   |   | 19.0 |   |   | (47.2 | %) |
| Net                    earnings                               |   | $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 5.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $ | 10.9 |   |   | (48.3 | %) | $ | 21.3 |   | $ | 36.4 |   |   | (41.6 | %) |
| Effective                    tax rate                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 32.0                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | % |   | 34.3 | % |   |   |   |   | 32.0 | % |   | 34.3 | %  |   |   |   |
|                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |                                                                          Three months                    ended                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                       Six months                    ended                                                      |
| As                    a percentage of net sales:              |   |  July                    30,2005                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | July                    31,2004 |   |   | %                    Point                                Change                                |   | July                    30,2005 |   |   | July                    31,2004 |   |   | %                    Point Change |
| Net                    sales                                  |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 100.0                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | % |   | 100.0 | % |   |   |   |   | 100.0 | % |   |  100.0 | % |   |   |   |
| Cost                    of products sold                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 79.7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | % |   | 77.1 | % |   | 2.6 | % |   | 78.6 | % |   | 77.0 | % |   | 1.6 | % |
| Gross                    profit                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 20.3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | % |   | 22.9 | % |   | (2.6 | %) |   | 21.4 | % |   | 23.0 | % |   | (1.6 | %) |
| SG&A                                                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 16.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | % |   | 17.6 | % |   | (0.7 | %) |   | 16.7 | % |   | 16.2 | % |   | 0.5 | % |
| Operating                    earnings before amortization (1) |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 3.4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 5.3 | % |   | (1.9 | %) |   | 4.7 | % |   | 6.8 | % |   | (2.1 | %) |
| Amortization                    of intangibles                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 0.6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 0.6 | % |   | (0.1 | %) |   | 0.5 | % |   | 0.6 | % |   | 0.0 | % |
| Operating                    earnings                         |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 2.8                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 4.7 | % |   | (1.8 | %) |   | 4.2 | % |   | 6.2 | % |   | (2.1 | %) |
| Interest                    expense, net                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 1.4 | % |   | (0.2 | %) |   | 1.2 | % |   | 1.2 | % |   | 0.0 | % |
| Other                    (income) and expense, net            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | (0.1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | %) |   | (0.1 | %) |   | 0.1 | % |   | 0.0 | % |   | (0.1 | %) |   | 0.0 | % |
| Earnings                    before taxes                      |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.7                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 3.4 | % |   | (1.7 | %) |   | 3.0 | % |   | 5.1 | % |   | (2.1 | %) |
| Income                    taxes                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 0.5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 1.2 | % |   | (0.6 | %) |   | 1.0 | % |   | 1.7 | % |   | (0.8 | %) |
| Net                    earnings                               |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 1.2                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | % |   | 2.3 | % |   | (1.1 | %) |   | 2.0 | % |   | 3.4 | % |   | (1.3 | %) |
|                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NM                    - Not meaningful                        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

**Seasonality.**

**Sales          **

**Gross          profit**

**SG&A          expense**

**Amortization**

**Income          **
**taxes**
**.**

----

**Business          Units to be Exited and Impairment, Restructuring and Related Non-Recurring          Charges: **

|                                                                                                                                               |                                               Three months                    ended                                   |                                                                          Six months                    ended                                                      |
|----------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                         | July                    30,2005                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | July                    31,2004 |   | PercentChange |   | July                    30,2005 |   | July                    31,2004 |   | PercentChange |   |
| Net                    sales                                                                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                         | $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 73.6 |   | $ | 78.0 |   |   | (5.6 | %) | $ | 159.4 |   | $ | 161.3 |   |   | (1.2 | %) |
| Cost                    of products sold                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 129.0 |   |   | 64.0 |   |   | 101.5 | % |   | 204.8 |   |   | 132.0 |   |   | 55.1 | % |
| Gross                    (loss) profit                                                                                                             |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (55.4 | ) |   | 14.0 |   |   | (496.6 | %) |   | (45.4 | ) |   | 29.3 |   |   | (254.8 | %) |
| SG&A                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 12.6 |   |   | 14.5 |   |   | (13.3 | %) |   | 26.9 |   |   | 30.3 |   |   | (11.2 | %) |
| Operating                    loss before amortization and impairment, restructuring and related                    non-recurring charges (1)  |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (68.0 | ) |   | (0.6 | ) |   | NM |   |   | (72.3 | ) |   | (1.0 | ) |   | NM |   |
| Amortization                    of intangibles                                                                                                     |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 0.4 |   |   | 0.4 |   |   | 0.0 | % |   | 0.8 |   |   | 0.8 |   |   | 0.0 | % |
| Impairment,                    restructuring and related non-recurring charges                                                                     |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 71.9 |   |   | — |   |   | NM |   |   | 71.9 |   |   | — |   |   | NM |   |
| Operating                    loss                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (140.2 | ) |   | (1.0 | ) |   | NM |   |   | (144.9 | ) |   | (1.7 | ) |   | NM |   |
| Other                    (income) and expense, net                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | — |   |   | — |   |   | — |   |   | — |   |   | — |   |   | — |   |
| Loss                    before taxes                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (140.2 | ) |   | (1.0 | ) |   | NM |   |   | (144.9 | ) |   | (1.7 | ) |   | NM |   |
| Income                    tax benefit                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (42.2 | ) |   | (0.3 | ) |   | NM |   |   | (43.7 | ) |   | (0.6 | ) |   | NM |   |
| Net                    loss                                                                                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                         | $                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | (98.0 | ) | $ | (0.7 | ) |   | NM |   | $ | (101.2 | ) | $ | (1.1 | ) |   | NM |   |
| Effective                    tax benefit rate                                                                                                      |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (30.1 | %) |   | (34.3 | %) |   |   |   |   | (30.2 | %) |   | (34.3 | %) |   |   |   |
|                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                 Three months                    ended                                                                                                                          |                                                    Six months                    ended                                 |
| As                    a percentage of net sales:                                                                                                   |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | July                    30,2005 |   |   | July                    31,2004 |   |   | %                    PointChange |   |   | July                    30,2005 |   |   | July                    31,2004 |   |   | %                    PointChange |   |
| Net                    sales                                                                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 100.0 | % |   | 100.0 | % |   |   |   |   | 100.0 | % |   | 100.0 | % |   |   |   |
| Cost                    of products sold                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 175.2 | % |   | 82.1 | % |   | 93.1 | % |   | 128.5 | % |   | 81.8 | % |   | 46.6 | % |
| Gross                    (loss) profit                                                                                                             |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (75.2 | %) |   | 17.9 | % |   | (93.1 | %) |   | (28.5 | %) |   | 18.2 | % |   | (46.6 | %) |
| SG&A                                                                                                                                           |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 17.1 | % |   | 18.7 | % |   | (1.5 | %) |   | 16.9 | % |   | 18.8 | % |   | (1.9 | %) |
| Operating                    loss before amortization and impairment, restructuring and related                    non-recurring charges (1)       |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (92.4 | %) |   | (0.8 | %) |   | (91.6 | %) |   | (45.3 | %) |   | (0.6 | %) |   | (44.7 | %) |
| Amortization                    of intangibles                                                                                                     |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 0.5 | % |   | 0.5 | % |   | 0.0 | % |   | 0.5 | % |   | 0.5 | % |   | 0.0 | % |
| Impairment,                    restructuring and related non-recurring charges                                                                     |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 97.6 | % |   | 0.0 | % |   | 97.6 | % |   | 45.1 | % |   | 0.0 | % |   | 45.1 | % |
| Operating                    loss                                                                                                                  |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (190.6 | %) |   | (1.3 | %) |   | (189.3 | %) |   | (90.9 | %) |   | (1.1 | %) |   | (89.8 | %) |
| Other                    (income) and expense, net                                                                                                 |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | 0.0 | % |   | 0.0 | % |   | 0.0 | % |   | 0.0 | % |   | 0.0 | % |   | 0.0 | % |
| Loss                    before taxes                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (190.6 | %) |   | (1.3 | %) |   | (189.3 | %) |   | (90.9 | %) |   | (1.1 | %) |   | (89.8 | %) |
| Income                    tax benefit                                                                                                              |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (57.4 | %) |   | (0.4 | %) |   | (56.9 | %) |   | (27.4 | %) |   | (0.4 | %) |   | (27.0 | %) |
| Net                    loss                                                                                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | (133.2 | %) |   | (0.8 | %) |   | (132.4 | %) |   | (63.5 | %) |   | (0.7 | %) |   | (62.8 | %) |
|                                                                                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NM                    - Not meaningful                                                                                                             |                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

**Business          units to be Exited. **

**Segment          results**

| · | Women’s                    Sportswear, |
|--------|----------------------------------------------|
| · | Men’s                    Sportswear,   |
| · | Other                    Soft Goods, and     |
| · | General                    Corporate.        |

**Reconciliation:**

----

| **Three                    months ended**        |   | July                    30, 2005 |                                   |  July                    31, 2004    |   |
|--------------------------------------------------|--------|----------------------------------|----------------------------------------|-------------------------------------------|--------|
| Net                    sales                     |   | OngoingBusinesses                |                                   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   | OngoingBusinesses |   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   |
| Women’s                    Sportswear      |   | $                                | 284.0                                  |                                      | $      | 13.2 |   | $ | 297.2 |   | $ | 296.2 |   | $ | 23.5 |   | $ | 319.6 |   |
| Men’s                    Sportswear        |   |                             | 120.9                                  |                                      |   | 33.4 |   |   | 154.3 |   |   | 110.6 |   |   | 29.0 |   |   | 139.6 |   |
| Other                    Soft Goods              |   |                             | 83.4                                   |                                      |   | 27.0 |   |   | 110.4 |   |   | 75.8 |   |   | 25.5 |   |   | 101.3 |   |
| Total                    net sales               |   | $                                | 488.2                                  |                                      | $      | 73.6 |   | $ | 561.8 |   | $ | 482.5 |   | $ | 78.0 |   | $ | 560.5 |   |
|                                             |   |                             |                                   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                             | July                    30, 2005  |                                      |   | July                    31, 2004 |   |
| Segment                    earnings (loss)       |   | OngoingBusinesses                |                                   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   | OngoingBusinesses |   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   |
| Women’s                    Sportswear      |   | $                                | 7.2                                    |                                      | $      | (16.1 | ) | $ | (8.9 | ) | $ | 18.6 |   | $ | (0.1 | ) | $ | 18.5 |   |
| Men’s                    Sportswear        |   |                             | 15.6                                   |                                      |   | (24.6 | ) |   | (9.0 | ) |   | 12.4 |   |   | 2.1 |   |   | 14.5 |   |
| Other                    Soft Goods              |   |                             | 6.1                                    |                                      |   | (27.3 | ) |   | (21.2 | ) |   | 5.9 |   |   | (2.6 | ) |   | 3.3 |   |
| General                    Corporate             |   |                             | (12.2                                  | )                                         |   | — |   |   | (12.2 | ) |   | (11.2 | ) |   | — |   |   | (11.2 | ) |
| Total                    segment earnings (loss) |   | $                                | 16.6                                   |                                      | $      | (68.0 | ) | $ | (51.3 | ) | $ | 25.7 |   | $ | (0.6 | ) | $ | 25.1 |   |
|                                             |   |                             |                                   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Six                    months ended**          |   |                             |  July                    30, 2005 |                                      |   |  July                    31, 2004 |   |
| Net                    sales                     |   |  OngoingBusinesses          |                                   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   | OngoingBusinesses |   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   |
| Women’s                    Sportswear      |   | $                                | 619.4                                  |                                      | $      | 37.8 |   | $ | 657.2 |   | $ | 699.9 |   | $ | 57.7 |   | $ | 757.5 |   |
| Men’s                    Sportswear        |   |                             | 251.9                                  |                                      |   | 66.8 |   |   | 318.8 |   |   | 220.9 |   |   | 46.9 |   |   | 267.8 |   |
| Other                    Soft Goods              |   |                             | 170.4                                  |                                      |   | 54.8 |   |   | 225.2 |   |   | 164.5 |   |   | 56.8 |   |   | 221.3 |   |
| Total                    net sales               |   | $                                | 1,041.8                                |                                      | $      | 159.4 |   | $ | 1,201.2 |   | $ | 1,085.2 |   | $ | 161.3 |   | $ | 1,246.6 |   |
|                                             |   |                             |                                   |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                             | July                    30, 2005  |                                      |   |  July                    31, 2004 |   |
| Segment                    earnings (loss)       |   |  OngoingBusinesses          |                                   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   | OngoingBusinesses |   | BusinessesTo                    be Exited |   | ConsolidatedTotal |   |
| Women’s                    Sportswear      |   | $                                | 28.6                                   |                                      | $      | (18.2 | ) | $ | 10.4 |   | $ | 56.9 |   | $ | 3.9 |   | $ | 60.8 |   |
| Men’s                    Sportswear        |   |                             | 26.7                                   |                                      |   | (23.9 | ) |   | 2.8 |   |   | 25.2 |   |   | (0.1 | ) |   | 25.2 |   |
| Other                    Soft Goods              |   |                             | 16.4                                   |                                      |   | (30.2 | ) |   | (13.8 | ) |   | 15.3 |   |   | (4.8 | ) |   | 10.6 |   |
| General                    Corporate             |   |                             | (22.8                                  | )                                         |   | — |   |   | (22.8 | ) |   | (23.8 | ) |   | — |   |   | (23.8 | ) |
| Total                    segment earnings (loss) |   | $                                | 48.9                                   |                                      | $      | (72.3 | ) | $ | (23.3 | ) | $ | 73.7 |   | $ | (1.0 | ) | $ | 72.7 |   |

----

**Ongoing          businesses:**

|                                        |   |  Three months                    ended |                                                  | Six                    months ended  |   |
|---------------------------------------------|--------|--------------------------------------------------|-------------------------------------------------------|-------------------------------------------|--------|
| Net                    sales                |   | July                    30,2005                  |                                                  | July                    31,2004           |   | PercentChange |   | July                    30,2005 |   | July                    31,2004 |   | PercentChange |   |
| Women’s                    Sportswear |   | $                                                | 284.0                                                 |                                      | $      | 296.2 |   |   | (4.1 | %) | $ | 619.4 |   | $ | 699.9 |   |   | (11.5 | %) |
| Men’s                    Sportswear   |   |                                             | 120.9                                                 |                                      |   | 110.6 |   |   | 9.3 | % |   | 251.9 |   |   | 220.9 |   |   | 14.1 | % |
| Other                    Soft Goods         |   |                                             | 83.4                                                  |                                      |   | 75.8 |   |   | 10.1 | % |   | 170.4 |   |   | 164.5 |   |   | 3.6 | % |
| Total                    net sales          |   | $                                                | 488.2                                                 |                                      | $      | 482.5 |   |   | 1.2 | % | $ | 1,041.8 |   | $ | 1,085.2 |   |   | (4.0 | %) |
|                                        |   |                                             |                                                  |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                        |   |                                             | Three                    months ended - amounts  |                                      |   | Three                    months ended - percentages |   |
| Segment                    earnings         |   |                                             | July                    30,2005                       |                                      |   | July                    31,2004 |   |   | PercentChange |   |   | July                    30,2005 |   |   | July                    31,2004 |   |   | %                    PointChange |   |
| Women’s                    Sportswear |   | $                                                | 7.2                                                   |                                      | $      | 18.6 |   |   | (61.3 | %) |   | 2.5 | % |   | 6.3 | % |   | (3.8 | %) |
| Men’s                    Sportswear   |   |                                             | 15.6                                                  |                                      |   | 12.4 |   |   | 25.7 | % |   | 12.9 | % |   | 11.2 | % |   | 1.7 | % |
| Other                    Soft Goods         |   |                                             | 6.1                                                   |                                      |   | 5.9 |   |   | 3.5 | % |   | 7.3 | % |   | 7.7 | % |   | (0.5 | %) |
| General                    Corporate        |   |                                             | (12.2                                                 | )                                         |   | (11.2 | ) |   | 8.8 | % |   | NM |   |   | NM |   |   | NM |   |
| Segment                    earnings         |   | $                                                | 16.6                                                  |                                      | $      | 25.7 |   |   | (35.1 | %) |   | 3.4 | % |   | 5.3 | % |   | (1.9 | %) |
|                                        |   |                                             |                                                  |                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                        |   |                                             | Six                    months ended - amounts    |                                      |   | Six                    months ended - percentages |   |
| Segment                    earnings         |   |                                             | July                    30,2005                       |                                      |   | July                    31,2004 |   |   | PercentChange |   |   | July                    30,2005 |   |   | July                    31,2004 |   |   | %                    PointChange |   |
| Women’s                    Sportswear |   | $                                                | 28.6                                                  |                                      | $      | 56.9 |   |   | (49.7 | %) |   | 4.6 | % |   | 8.1 | % |   | (3.5 | %) |
| Men’s                    Sportswear   |   |                                             | 26.7                                                  |                                      |   | 25.2 |   |   | 5.7 | % |   | 10.6 | % |   | 11.4 | % |   | (0.8 | %) |
| Other                    Soft Goods         |   |                                             | 16.4                                                  |                                      |   | 15.3 |   |   | 6.9 | % |   | 9.6 | % |   | 9.3 | % |   | 0.3 | % |
| General                    Corporate        |   |                                             | (22.8                                                 | )                                         |   | (23.8 | ) |   | (4.2 | %) |   | NM |   |   | NM |   |   | NM |   |
| Segment                    earnings         |   | $                                                | 48.9                                                  |                                      | $      | 73.7 |   |   | (33.6 | %) |   | 4.7 | % |   | 6.8 | % |   | (2.1 | %) |

**Women’s          Sportswear - Ongoing.**

----

**Men’s          Sportswear - Ongoing.**

**Other          Soft Goods - Ongoing.**

**General          corporate**

**FINANCIAL          CONDITION**

----

**Net          cash provided by operating activities**

**Working          capital**

| — | Accounts                    receivable increased $33.6 to $375.4 at July 30, 2005 from $341.8                    at July                    31, 2004 primarily due to the accounts receivable associated                    with the Phat                    Farm sportswear wholesale business and the increase in days sales                    outstanding. Days sales outstanding were 52 days as of July 30,                    2005                    compared to 49 days at July 31, 2004. The increase in days sales                    outstanding was due to increased sales to off-price customers                    who have                    longer terms and earlier settlement of markdown support with                    customers. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| — | Inventories                    decreased $64.3 to $282.5 at July 30, 2005 from $346.8 at July                    31, 2004.                    Days supply now stands at 53 days compared to 58 days at July                    31, 2004.                    The decrease in inventories is primarily due to additional inventory                    reserves recorded related to the 2005 Restructuring                    Plan.                                                                                                                                                                                                                                                                                                                         |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| — | Accounts                    payable and accrued expenses increased $5.7 to $327.7 at July                    30, 2005                    from $322.0 at July 31, 2004 primarily as a result of reserves                    related to                    the 2005 Restructuring Plan partially offset by a decrease in                    inventory                    purchases at the end of the second quarter of                    2005.                                                                                                                                                                                                                                                                                                            |

**Net          cash used in investing activities **

**Net          cash (used in) provided by financing activities**

----

**Cash          and cash equivalents**

----

**CAUTIONARY          NOTE CONCERNING FACTORS THAT MAY AFFECT FUTURE RESULTS**

|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| · | changes                    in the retail environment. With the growing trend towards retail                    trade                    consolidation, the Company is increasingly dependent upon key                    retailers                    whose bargaining strength and share of the Company’s business is growing.                    Accordingly, the Company faces greater pressure from these customers                    to                    provide more favorable trade terms. The Company can be negatively                    affected                    by changes in the policies or negotiating positions of its customers.                    The                    inability of the Company to develop satisfactory programs and                    systems to                    satisfy these customers could adversely affect operating results                    in any                    reporting period; |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | the                    economic effects of safeguards put in place on Chinese imports                    into the                    U.S.;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | changes                    in the relative performance of the Company’s business units that could                    have an adverse impact on the business units’ forecasted cash flows,                    resulting in goodwill impairment charges;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | changes                    in trends in the market segments in which the Company                    competes;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | the                    performance of the Company’s products within the prevailing retail                    environment;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | customer                    acceptance of both new designs and newly introduced product                    lines;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | actions                    of competitors that may impact the Company’s business;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | financial                    or operational difficulties encountered by customers or                    suppliers;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | the                    economic impact of uncontrollable factors, such as terrorism                    and                    war;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | disruptions                    to transportation systems or shipping lanes used by the Company                    or its                    suppliers;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | continued                    satisfactory relationships with licensees and licensors of trademarks                    and                    brands;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | ability                    to generate sufficient sales and profitability related to licensing                    agreements that contain significant minimum royalty                    payments;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | ability                    to successfully complete the restructuring plan;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | the                    impact of economic changes such as:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | — the                    overall level of consumer spending for apparel,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | —                     national and regional economic conditions,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | —                     inflation or deflation,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | —                     changes in oil prices, including their impact on fabric                    prices                    and/or transportation costs,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | —                     currency exchange fluctuations,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   | —                     changes in interest rates and other capital market                    conditions;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | stable                    governments and business conditions in the nations where the                    Company’s                    products are manufactured;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | health                    or other issues that could affect the free-flow of people and                    goods                    between nations where the Company’s products are                    manufactured;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | the                    scope, nature or impact of acquisition activity and the ability                    to                    effectively integrate acquired operations; and                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| · | changes                    in the Company’s plans, strategies, objectives, expectations and                    intentions which may happen at any time at the discretion of                    the                    Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

**Item          3. Quantitative and Qualitative Disclosures about Market          Risk**

**Item          4. Controls and Procedures**

----

**PART          II. OTHER INFORMATION**

**Item          2. Unregistered Sales of Equity Securities and Use          of Proceeds**

| Fiscal                    Month            |   | Total                    Number of Shares                    (or Units)Purchased |    | Average                    Price as                    Paid per                    Share (or                    Unit) |   | Total                    Number ofShares                    (or Units)Purchased                    as Part of Publicly                    Announced Plans                    or Programs |   | Maximum                    Number (or                    Approximate Dollar                    Value) of Shares(or                    Units) that May Yet Be                    Purchased Under the                    Plans or Programs |    |
|--------------------------------------------|--------|----------------------------------------------------------------------------------|---------|-----------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|
| May                    (5/1/05 - 6/4/05)   |   |                                                                             | — |                                                                                                                  | $      | —                                                                                                                                                                                  |   |                                                                                                                                                                                                                                     | — |   |   | — |   |
| June                    (6/5/05 - 7/2/05)  |   |                                                                             | — |                                                                                                                  |   | —                                                                                                                                                                                  |   |                                                                                                                                                                                                                                     | — |   |   | — |   |
| July                    (7/3/05 - 7/30/05) |   |                                                                             | — |                                                                                                                  |   | —                                                                                                                                                                                  |   |                                                                                                                                                                                                                                     | — |   |   | 2,783,785 |   |
| Total                                      |   |                                                                             | — |                                                                                                                  | $      | —                                                                                                                                                                                  |   |                                                                                                                                                                                                                                     | — |   |   | 2,783,785 |   |

| Fiscal                    Month            |   | Total                    Number ofShares                    Purchased |    | Average                    PricePaid                    per Share |   |
|--------------------------------------------|--------|-----------------------------------------------------------------------|---------|-------------------------------------------------------------------|--------|
| May                    (5/1/05 - 6/4/05)   |   |                                                                  | 5,466   |                                                              | $      | 25.82 |   |
| June                    (6/5/05 - 7/2/05)  |   |                                                                  | 7,404   |                                                              |   | 27.43 |   |
| July                    (7/3/05 - 7/30/05) |   |                                                                  | — |                                                              |   | — |   |
| Total                                      |   |                                                                  | 12,870  |                                                              | $      | 26.74 |   |

**Item          6. Exhibits **

| S.E.C.                    Exhibit |        |
|-----------------------------------|-------------|
| Reference                    No.  | Description |
|                              | 4.10        | Amendment                    No. 1 to Credit Agreement dated as of September 1, 2005 among                    Kellwood                    Company, certain commercial lending institutions, and Bank of                    America,                    N.A., as Administrative Agent and Banc of America Securities                    LLC as Sole                    Lead Arranger and Sole Book Manager, filed herewith. |
|                              |        |   |
|                              | 31.1        | Certification                    of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley                    Act of 2002, filed herewith. |
|                              |        |   |
|                              | 31.2        | Certification                    of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley                    Act of 2002, filed herewith. |
|                              |        |   |
|                              | 32          | Certification                    of Chief Executive Officer and Chief Financial Officer pursuant                    to Section                    906 of the Sarbanes-Oxley Act of 2002, furnished                    herewith. |

----

|                                 |
|--------------------------------------|
| September                  8, 2005   |   | /s/                  W. Lee Capps                  III                                                        |
|                                 |   | W.                    Lee Capps III |
|                                 |   | Chief                    Operating Officer and Chief Financial Officer |
|                                 |   | (Principal                    Financial Officer) |
|                                 |   |   |
|                                 |   |   |
| September                    8, 2005 |   | /s/                    Gregory W.                    Kleffner                                                |
|                                 |   | Gregory                    W. Kleffner |
|                                 |   | Vice                    President Finance and Controller |
|                                 |   | (Principal                    Accounting Officer) |

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