Search
 

Jones Apparel Explores Sale

NEW YORK CITY-The company's CEO stresses that his wholesale and retail operations will not be sold off in parts.

By Ian Ritter | Updated on March 22, 2006

NEW YORK CITY-Jones Apparel Group’s executives released a statement saying that the company’s board of directors is pursuing a possible sale of the company. The retailer and wholesaler hired Goldman, Sachs & Co. as an advisor in the process.

In the same release the company denied reports that it is considering the sale of individual divisions. One rumor was that the firm was possibly selling its Nine West shoe and accessories business.

At Merrill Lynch’s Retailing Leaders Conference here yesterday, Peter Boneparth, Jones’ chief executive officer, stressed that his firm would not sell itself off in parts and that discussions to sell the company were in part based on the investor “climate.” “It’s obviously been an ongoing discussion for a long period of time,” he said. “I think our board is very focused in maximizing shareholder value.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.