<SUBMISSION>
<ACCESSION-NUMBER>0000950144-04-007372
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20040728
<ITEMS>5
<FILING-DATE>20040728
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>APPLICA INC
<CIK>0000217084
<ASSIGNED-SIC>3634
<IRS-NUMBER>591028301
<STATE-OF-INCORPORATION>FL
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-10177
<FILM-NUMBER>04936176
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>5980 MIAMI LAKES DR
<CITY>MIAMI LAKES
<STATE>FL
<ZIP>33014
<PHONE>3053622611
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>5980 MIAMI LAKES DRIVE
<CITY>MIAMI LAKES
<STATE>FL
<ZIP>33014
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>WINDMERE DURABLE HOLDINGS INC
<DATE-CHANGED>19970224
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>WINDMERE CORP
<DATE-CHANGED>19920703
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>SAVE WAY INDUSTRIES INC
<DATE-CHANGED>19830815
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g90155e8vk.htm
<DESCRIPTION>APPLICA INCORPORATED
<TEXT>
<HTML>
<HEAD>
<TITLE>Applica Incorporated</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 10pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of the<BR>
Securities Exchange Act of 1934</B>



<P align="center" style="font-size: 10pt"><B>Date of Report (Date of Earliest Event Reported): July&nbsp;28, 2004</B>


<P align="center" style="font-size: 24pt"><B>APPLICA INCORPORATED</B>


<HR size="1" noshade width="85%" align="center">


<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>



<P align="center" style="font-size: 10pt">Commission File Number 1-10177


<DIV align="center">
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    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Florida</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>59-1028301</B></TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer Identification Number)</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>5980 Miami Lakes Drive, Miami Lakes, Florida</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>33014</B></TD>
</TR>

<TR style="font-size: 1px">
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><HR size="1" noshade>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: (305)&nbsp;362-2611



<P>
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<P align="center" style="font-size: 10pt">&nbsp;
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<DIV style="font-family: 'Times New Roman',Times,serif">








<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Other Events and Required FD Disclosure.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On July&nbsp;28, 2004, Applica Incorporated issued a press release announcing
that it has sold its Chinese manufacturing operations through a sale of all of
the outstanding shares of Applica Durable Manufacturing Limited to an affiliate
of Elec-Tech International Co., Ltd., a leading Chinese manufacturer of kitchen
appliances. Applica does not expect to realize a material gain or loss from
the sale. As part of the transaction, Applica has entered into a long-term
supply arrangement with Elec-Tech.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally, as a result of the decision to exit its Chinese
manufacturing operations, Applica announced that it has changed its position
with regard to permanently investing certain previously undistributed foreign
earnings outside of the United States and estimates that there will be an
additional tax charge in the second quarter of approximately $24.0&nbsp;million
($1.00 per share), which reflects the U.S. taxes on those earnings. Management
believes that the cash impact of these taxes in 2004 will be less than $2.0
million as the result of the use of NOLs and foreign tax credits.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applica also announced that it has made a preliminary assessment of its
existing goodwill for impairment in accordance with Statement of Financial
Accounting Standards (SFAS)&nbsp;No.&nbsp;142 &#147;Goodwill and Other Intangible Assets&#148;.
Management&#146;s current estimate of the impairment is $62.8&nbsp;million ($46.4&nbsp;million
after tax). The non-cash expense will be reported as an impairment of goodwill
and will reduce reported earnings by $1.93 per share for the second quarter.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
view of these corporate events, the Company is re-evaluating its tax
strategies and its ability to realize deferred tax assets of
approximately $64.0&nbsp;million as of March&nbsp;31, 2004.

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the press release is attached as Exhibit&nbsp;99.1 to this report.


<P align="center" style="font-size: 10pt">2
</DIV>

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<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
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    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top"><B>Date: July 28, 2004            </B>&nbsp;</TD>
    <TD colspan="3">Applica Incorporated<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">/s/ Terry Polistina
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Terry Polistina, Senior Vice President and&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Chief Financial Officer of Applica
Incorporated&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><B>Exhibit&nbsp;Index</B>


<DIV align="center">
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<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B><HR size="1" noshade></TD>
</TR>

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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Applica Incorporated Press Release dated July&nbsp;28, 2004</TD>
</TR>

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</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">4
</DIV>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>g90155exv99w1.htm
<DESCRIPTION>PRESS RELEASE DATED JULY 28, 2004
<TEXT>
<HTML>
<HEAD>
<TITLE>Press Release dated July 28, 2004</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;99.1</B>



<P align="left" style="font-size: 10pt">&#091;Applica logo&#093;



<P align="left" style="font-size: 12pt"><B>FOR IMMEDIATE RELEASE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="60%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Contact:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Investor Relations Department</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>(305)&nbsp;362-2611</B></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>investor.relations@applicamail.com</B></TD>
</TR>

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</TABLE>
</DIV>



<P align="center" style="font-size: 12pt"><B>Applica Incorporated
Announces Sale of China Manufacturing Operations and<BR>
Impairment of Goodwill In Accordance with SFAS No.&nbsp;142</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Miami Lakes, Florida </B>(July&nbsp;28, 2004) &#151; Applica Incorporated (NYSE: APN)
today announced that it has sold its Chinese manufacturing operations through a
sale of all of the outstanding shares of Applica Durable Manufacturing Limited
to an affiliate of Elec-Tech International Co., Ltd., a leading Chinese
manufacturer of kitchen appliances. Applica does not expect to realize a
material gain or loss from the sale. As part of the transaction, Applica has
entered into a long-term supply arrangement with Elec-Tech.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harry D. Schulman, Applica&#146;s President and Chief Executive Officer,
commented, &#147;We are very excited to announce this expansion of our relationship
with Elec-Tech. We consider Elec-Tech to be a leading manufacturer in China and
expect that our supply partnership with them will result in new products and
improved cost for Applica and its customers.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a result of the decision to exit its Chinese manufacturing operations,
Applica has changed its position with regard to permanently investing certain
previously undistributed foreign earnings outside of the United States and
estimates that there will be an additional tax charge in the second quarter of
approximately $24.0&nbsp;million ($1.00 per share), which reflects the U.S. taxes on
those earnings. Management believes that the cash impact of these taxes in
2004 will be less than $2.0&nbsp;million as the result of the use of NOLs and foreign
tax credits.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applica also announced that it has made a preliminary assessment of its
existing goodwill for impairment in accordance with Statement of Financial
Accounting Standards (SFAS)&nbsp;No.&nbsp;142 &#147;Goodwill and Other Intangible Assets&#148;.
Management&#146;s current estimate of the impairment is $62.8&nbsp;million ($46.4&nbsp;million
after tax). The non-cash expense will be reported as an impairment of goodwill
and will reduce reported earnings by $1.93 per share for the second quarter.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
view of these corporate events, the Company is re-evaluating its tax
strategies and its ability to realize deferred tax assets of
approximately $64.0&nbsp;million as of March&nbsp;31, 2004.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applica will hold a conference call on August&nbsp;5, 2004 at 11:00&nbsp;a.m.,
Eastern Daylight Time, to discuss these matters, as well as its second-quarter
results, and to give guidance on future results and trends in operations. Live
audio of the conference call will be simultaneously broadcast over the Internet
and will be available to members of the news media, investors and the general
public. The conference call is expected to last approximately one hour.
Broadcast of the event can be accessed on the Company&#146;s website,
<U>www.applicainc.com</U> by clicking on the Investor Relations page. You may also
access the call via CCBN, at <U>www.streetevents.com</U>. The event will be archived
and available for replay through Thursday, August&nbsp;12, 2004, at midnight.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applica Incorporated and its subsidiaries are marketers and distributors
of a broad range of branded and private-label small electric consumer goods.
Applica markets and distributes kitchen products, home products, pest control
products, pet care products and personal care products. Applica markets
products under licensed brand names, such as Black &#038; Decker&#174;, its own brand
names, such as Windmere&#174;, LitterMaid&#174; and Applica&#174;, and other private-label
brand names. Applica&#146;s customers include mass merchandisers, specialty
retailers and appliance distributors primarily in North America, Latin America
and the Caribbean. The Company operates manufacturing facilities in Mexico.
Additional information regarding the Company is available at
www.applicainc.com.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain matters discussed in this news release are forward-looking
statements that are subject to certain risks and uncertainties that could cause
actual results to differ materially from those set forth in the forward-looking
statements. These factors include uncertainties regarding the success or
failure of our growth strategy; increases in cost and unavailability of raw
materials and components; complications resulting from our implementation of
the new ERP system; our dependence on purchases from large customers; our
ability to renew the Black &#038; Decker&#174; trademark license agreement; the strength
of the U.S. retail market; currency fluctuations in our international
operations; the potential for product recalls and product liability claims
against us; the bankruptcy or loss of a major retail customer, distributor or
supplier; the risks of our international operations; changes in trade relations
with China; our dependence on the timely development, introduction and customer
acceptance of products; competitive products and pricing; dependence on foreign
suppliers and supply and manufacturing constraints; cancellation or reduction
of orders; and other risks and uncertainties detailed from time to time in the
Company&#146;s Securities and Exchange Commission filings, including the Annual
Report on Form 10-K for the year ended December&nbsp;31, 2003. Readers are
cautioned not to place undue reliance on forward-looking statements. Applica
undertakes no obligation to publicly revise any forward-looking statements to
reflect events or circumstances that arise after the date hereof.



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