Phoenix Footwear Announces Extension to File Form 10-K and Timing of Year-End Earnings...

Phoenix Footwear Announces Extension to File Form 10-K and Timing of Year-End
Earnings Conference Call

CARLSBAD, Calif., March 31 /PRNewswire-FirstCall/ -- Phoenix Footwear
Group, Inc. (Amex: PXG) announced today that it has filed a notice of
extension with the Securities and Exchange Commission on Form 12b-25 to extend
the time to file its Annual Report on Form 10-K for the fiscal year ended
December 29, 2007 until April 14, 2008. The extension will allow the Company
to complete its audit work, which requires additional time due to the
divestiture of its Royal Robbins and Altama business units during 2007.
The Company expects to release its financial results for the fourth
quarter and fiscal year ended December 29, 2007 on Monday, April 14, 2008
after market close, and to host an investor call shortly thereafter. Details
on accessing the conference call will be announced by the Company in a
separate press release.
About Phoenix Footwear Group, Inc.
Phoenix Footwear Group, Inc., headquartered in Carlsbad, California,
designs, develops and markets a diversified selection of men's and women's
dress and casual footwear, belts, and other accessories. Phoenix Footwear's
brands and licenses include Tommy Bahama Footwear(R), Trotters(R),
SoftWalk(R), H.S. Trask(R), Chambers Belts(R) and Wranglers. Emphasizing
quality, fit and traditional and authentic designs, these brands are primarily
sold through department stores, specialty retailers, mass merchants and
catalogs. Phoenix Footwear Group, Inc. is traded on the American Stock
Exchange under the symbol PXG.
Forward-Looking Statements
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to
be covered by the safe harbors created thereby. These forward-looking
statements include, but are not limited to, statements the expected tax
benefit from the Altama transaction, Phoenix Footwear's ability to obtain a
new revolving credit facility, the future growth and performance of individual
brands, Phoenix Footwear's expected financial performance, and outlook for
fiscal 2008 and/or statements preceded by, followed by or that include the
words "believes," "could," "expects," "anticipates," "estimates," "intends,"
"plans," "projects," "seeks," "exploring, " or similar expressions. Investors
are cautioned that all forward- looking statements involve risks and
uncertainties that could cause actual results to differ materially from those
in the forward-looking statements. Many of these risks and uncertainties are
discussed in Phoenix Footwear's Annual Report on Form 10-K for the fiscal year
ended December 30, 2006 filed with the Securities and Exchange Commission (the
"SEC"), and in any subsequent reports filed with the SEC, all of which are
available at the SEC's website at http://www.sec.gov. These include without
limitation: Phoenix Footwear's ability to obtain a new revolving credit
facility; the risk that Phoenix Footwear will not enter into a definitive
license agreement with LEE(R) brands; the concentration of Phoenix Footwear's
sales to a relatively small group of customers; changing consumer preferences
and fashion trends; competition from other companies in Phoenix Footwear's
markets; the potential financial instability of Phoenix Footwear's customers;
Phoenix Footwear's ability to protect its intellectual property rights; the
risk of losing third party trademark licenses; Phoenix Footwear's ability to
manage inventory levels; fluctuations in its financial results as a result of
the seasonality in its business; the risks of doing business in international
markets; Phoenix Footwear's reliance on independent manufacturers; disruptions
in Phoenix Footwear's manufacturing system; the loss of one or more senior
executives; fluctuations in the price, availability and quality of raw
materials; a decline in general economic conditions; and, the possibility of
impairment charges resulting from future adjustments to the value of goodwill
recorded in connection with past or future acquisitions. Although Phoenix
Footwear believes that the assumptions underlying the forward- looking
statements contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be accurate. In light
of the significant uncertainties inherent in the forward- looking statements
included herein, the inclusion of such information should not be regarded as a
representation by Phoenix Footwear or any other person that the objectives and
plans of Phoenix Footwear will be achieved. All forward-looking statements
included in this press release are based on Phoenix Footwear's current
expectations and projections about future events, based on information
available at the time of the release, and Phoenix Footwear assumes no
obligation to update any forward-looking statements.
SOURCE Phoenix Footwear Group, Inc.

Scott Sporrer, Interim Chief Financial Officer of Phoenix Footwear Group,
Inc., +1-760-602-9688; or Andrew Greenebaum, agreenebaum@icrinc.com, or Lena
Adams, ladams@icrinc.com, both of ICR, Inc., +1-310-954-1100, for Phoenix
Footwear Group, Inc.