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Really, Jones Apparel Group Inc. (NYSE: JNY) could not have picked a better day to report fourth quarter earnings if it tried. When the government reports surprisingly strong retail sales for January, with clothes in particular up 1.4% during the month, that fact can only help a clothing retailer.

Jones, still executing its restructuring plan, said its fourth-quarter net loss narrowed to $89.8 million, or $1.06 per share, from $269.5 million, or $2.51 per share, last year. Without the gain on the sale of its high-end department-store chain, Barneys New York, and other costs, net income was nine cents per share, beating the seven cents per share analysts had been expecting.

Jones, which exited several lines during the quarter and along with the rest of the market suffered from weak holiday shopping season, posted a 17% decline in revenue to $838.5 million from $1.01 billion last year. Analysts expected revenue of $874.8 million. To get a better feel for the retailer's performance during the quarter, same-store sales fell 4.8%.

Continue reading Jones Apparel (JNY) shares rally after Q4 loss narrows

Jones Apparel (JNY) shares rally after Q4 loss narrows originally appeared on BloggingStocks on Wed, 13 Feb 2008 12:54:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>anne kleinAnneKleinearningsGloria VanderbiltGloriaVanderbiltinthenewsjnyjones appareljones new yorkJonesApparelJonesNewYorknine westNineWestwal-martwmtWed, 13 Feb 2008 12:54:00 EST<![CDATA[Jones Apparel earnings disappoint]]>http://www.bloggingstocks.com/2007/08/01/jones-apparel-earnings-dissapoints-investors/http://www.bloggingstocks.com/2007/08/01/jones-apparel-earnings-dissapoints-investors/http://www.bloggingstocks.com/2007/08/01/jones-apparel-earnings-dissapoints-investors/#commentsFiled under: , , , , , ,

It has been a tough start of the day for Jones Apparel Group (NYSE: JNY) after reporting an unexpected second quarter loss this morning. The stock fell sharply this morning, setting a new 52-week low.

Analysts had expected a profit of $0.31 per share, and were stunned by the loss of $0.44 per share. Excluding some special items, the company earned $0.17 per share, marking the second straight quarter that the company has failed to meet estimates.

The company blamed its poor performance on a tough retail market, which led to weak same stores sales. The troubles that the retail market created forced Jones to slash many of its prices just to get some of its excess inventory out the door.

Also making news this morning was the company's decision to sell its subsidiary Barneys New York Inc. The company has accepted a $900 million offer from Fast Retailing. Jones bought Barneys New York, a chain of upscale department stores, for $400 million.

Continue reading Jones Apparel earnings disappoint

Jones Apparel earnings disappoint originally appeared on BloggingStocks on Wed, 01 Aug 2007 10:54:00 EST. Please see our terms for use of feeds.

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