Search
 

Jones Apparel Loses Ground

NEW YORK CITY-While Barney's led success of the apparel supplier's retail components in 3Q, overall revenues and profits dropped.

By Marita Thomas | Updated on October 26, 2006

NEW YORK CITY-Despite healthy comp-store gains in Jones Apparel Group Inc.’s owned retail units, overall third-quarter revenue slid 6.5% to $1.2 billion, down from $1.33 billion for the same quarter a year ago. Profits dropped to $63 million, down from the previous 3Q total of $76.8 million.

One reason for the slide is the first-quarter sale of the Polo Jeans Co., which contributed $78.4 million to third-quarter 2005 revenues. In addition, the wholesale component of the locally-based apparel supply company served 90 fewer Federated department stores this quarter because of Federated’s massive nationwide consolidation.

Yet, sales at Jones’ retail outlets in general, and at Barney’s in particular, outperformed. Comp store sales from the company’s owned footwear and ready-to-wear stores, excluding Barney’s, rose 5.1% during this third quarter, compared to the same quarter of 2005.

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.