Exhibit 99.1

FOR IMMEDIATE RELEASE

HAMPSHIRE GROUP, LIMITED REPORTS 2014 FIRST QUARTER RESULTS

New York, New York, May 13, 2014: Hampshire Group, Limited (OTC Markets: HAMP) today reported results for the first quarter ended March 29, 2014.

First Quarter 2014 Compared to First Quarter 2013:

Paul Buxbaum, Chief Executive Officer of Hampshire Group, commented, “While our financial results remain well below what our business is capable of achieving, during the first quarter of 2014 we made meaningful progress in positioning the Company for long-term profitable growth. Notably, our gross margin expanded 150 basis points reflecting the positive impact of improved procurement and manufacturing of our Men’s Brands tops. During the quarter we added to our portfolio of apparel offerings with the James Campbell acquisition, a profitable brand with considerable growth and margin potential. Last month we expanded our partnership with Levi Strauss to include the women's Dockers™ category for both tops and bottoms beginning with the Spring 2015 season and continuing through 2018, and this week we expanded our licensing agreement covering men’s knit and woven tops as well as sweaters through 2018. We are pursuing additional tuck-in acquisitions as well as licensing and channel expansion opportunities to broaden our portfolio, augment our sales, and capitalize on the scale that our business model offers.”

Business Overview

Net sales for the first quarter of 2014 declined 14.9% compared to the prior year. Net sales for the Company’s Rio Garment division declined as compared to the first quarter of 2013 due to lower volumes for private label t-shirts, partially offset by improved pricing. Hampshire Brands saw an increase in net sales as a result of higher pricing driven by a favorable mix shift, which more than offset lower volume resulting from shipment timing.

Gross profit of $3.1 million declined $0.3 million compared to the first quarter of 2013 due to the aforementioned decrease in net sales. Gross profit margin increased to 19.3% from 17.8% in the first quarter of 2013 due to an increase in the gross profit margin of Hampshire Brands products resulting largely from the benefits of sourcing synergies. This was partially offset by a decrease in the gross profit margin of Rio’s products, which primarily stemmed from changes in volume, sales and customer mix.

Selling, general and administrative expenses, including acquisition related costs of $0.2 million, declined $0.7 million to $7.3 million in the first quarter of 2014. The decrease was primarily attributable to lower severance, consulting, freight and warehouse costs, along with overall reductions in operating expenses resulting from progress with various cost savings measures, partially offset by expenses related to the acquisition of the James Campbell Brands in February 2014, and higher stock based compensation.

Cash Flow and Financial Position at March 29, 2014:

Outlook

Mr. Buxbaum concluded, “Our gross margin expansion in the first quarter is an indicator that many of the operational enhancements we have made over the last several quarters are beginning to take hold. As a result, we remain optimistic in our ability to achieve significant quarterly EBITDA improvement versus the prior year, along with positive full-year adjusted EBITDA in 2014.”

Hampshire Group, Limited (www.hamp.com), along with its wholly-owned subsidiaries, Hampshire Brands, Inc. and Rio Garment S.A. is a provider of fashion apparel across a broad range of product categories, channels of distribution and price points. The Company specializes in designing and marketing men’s sportswear to department stores, chain stores and mass market retailers under licensed brands, our own proprietary brands and the private labels of our customers. The Company operates a Honduras-based apparel manufacturer, designing, sourcing and manufacturing knit tops for men, women and children.

Cautionary Disclosure Regarding Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect the Company's current views with respect to future events. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrences of unanticipated events. Readers are urged to review and consider carefully the various disclosures made by the Company in its Form 10-K and other Securities and Exchange Commission filings, which advise interested parties of certain factors that affect the Company's business. Risks and uncertainties that could cause actual results to differ materially from those anticipated in our forward looking statements include, but are not limited to, the following: A prolonged period of depressed consumer spending; use of foreign suppliers for raw materials and manufacture of our products including a manufacturing facility based in Honduras; lack of an established public trading market for our common stock; decreases in business from or the loss of any one of our key customers; financial instability experienced by our customers; chargebacks and margin support payments; loss of or inability to renew certain licenses; change in consumer preferences and fashion trends, which could negatively affect acceptance of our products by retailers and consumers; failure of our manufacturers to use acceptable ethical business practices; failure to deliver quality products in a timely manner; problems with our distribution system and our ability to deliver products; labor disruptions at ports, our suppliers, manufacturers or distribution facilities; failure, inadequacy, interruption or security lapse of our information technology; failure to compete successfully in a highly competitive and fragmented industry; challenges integrating any business we have acquired or may acquire; potential impairment of goodwill and acquired intangible assets; unanticipated expenses beyond the amount reserved on our balance sheet or unanticipated cash payments related to the ultimate resolution of income and other possible tax liabilities; significant adverse changes to international trade regulations; loss of certain key personnel which could negatively impact our ability to manage our business; risks related to the global economic, political and social conditions; fluctuation in the price of raw materials adversely affecting our results of operations; energy and fuel costs are subject to adverse fluctuations and volatility; potential restrictions in our ability to borrow under our revolving credit facility; lack of sufficient liquidity to fund our operations; failure to realize expected benefits from our cost savings plan; and cyber-security risks, which could negatively impact the security of our sensitive information and technology.

See Accompanying Tables

Hampshire Group, Limited

Selected Unaudited Financial Data

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