"We're extremely excited about the concept and feel this could be an eventual growth opportunity in a big way," said Rhonda Brown, president and CEO of the Jones' footwear, accessories and retail group. The stores will carry a variety of Jones' apparel brands, she said. The company's announcement comes when other retailers, such as Gap Inc.'s Old Navy, are expanding their plus-size offerings.
Overall, Jones plans to add 15 to 20 footwear stores this year, about 10 of them in its Bandolino chain, as well as 30 to 35 ready-to-wear units, including 12 Anne Klein stores. The company currently operates 987 domestic units.
On the international front, Jones is looking at expanding its Nine West chain into Asia and Russia. Its overseas store count jumped from 616 stores at the end of 2003 to 697 at the end of last year.
Jones also plans to add co-op stores this year to its Barneys New York, luxury department-store chain, though executives did not reveal how many. Barneys currently has three of those units in New York City and one each in Atlanta and Miami, in addition to its six department stores. Jones acquired Barneys last year for $400 million.
During its Q4, which ended Dec. 31, Jones' same-store sales (excluding Barneys) dropped 4.4% from the year before. Earnings per share were down to $0.28 from $0.33 over the same year-ago period. Revenues jumped to nearly $1.1 billion from $980.1 million.
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