Jones Group reports stronger sales in Q3

01 Nov '11

4 min read

John T. McClain, The Jones Group Chief Financial Officer, commented: "We had another solid quarter and our financial position remains strong. We ended the quarter with $61 million of cash and $55 million outstanding under our revolver, which we have repaid. We entered 2011 with a more conservative, tightened inventory buy plan, and we will continue to approach inventory commitments in the same manner as we look to 2012. With a focus on inventory management and expense control, we believe we will continue to improve margins and to maintain a strong balance sheet."

Mr. Card concluded: "Although we are operating in an uncertain retail landscape, we are confident that we are taking the right steps to position Jones for continued operating improvement. We have successfully aligned our plans with the current consumer environment and will continue to be prudent in our spending, while actively pursuing the Company's strategy."

The Company's Board of Directors has declared a regular quarterly cash dividend of $0.05 per share to all common stockholders of record as of November 11, 2011 for payment on November 25, 2011.

The Jones Group Inc is a leading global designer, marketer and wholesaler of over 35 brands with best-in-class product expertise across five divisions: apparel, footwear, jeanswear, jewelry and handbags.

The Jones Group Inc

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