Home / Knowledge / News / Fashion / Jones Apparel reports 2007 Q4 & full year financial results
Jones Apparel reports 2007 Q4 & full year financial results
13
Feb '08
Jones Apparel Group Inc reported results for the fourth quarter and year ended December 31, 2007. Revenues for the fourth quarter of 2007 totaled $839 million versus revenues of $1,007 million for the fourth quarter of 2006. Revenues for the full year 2007 were $3,849 million versus $4,087 million for the full year 2006. The year over year changes reflect the planned exit of the moderate sportswear lines, which was substantially complete by December 31, 2007.

The Company reported a loss per share of ($1.06) for the fourth quarter of 2007, as compared with a loss per share of ($2.51) in the same period last year. Earnings per share for the full year 2007 were $3.07, as compared with a loss per share of ($1.30) in the prior year. 2007 results included the gain on the sale of Barneys New York and the costs associated with our strategic restructuring plans.

Excluding the effects of Barneys New York and its related results, the impairments of goodwill and trademarks in our moderate sportswear businesses, the impact of severance and other expenses related to our strategic restructuring activities and certain other charges, adjusted earnings per share from continuing operations for the fourth quarter of 2007 were in line with the Company's expectations at $0.09, as compared with $0.32 for the same period last year.

Adjusted earnings per share from continuing operations for the full year 2007 were also in line with the Company's expectations at $1.26, as compared with $1.94 for the full year 2006 (as detailed in the accompanying schedule).

Wesley R. Card, Jones Apparel Group President and Chief Executive Officer, stated, "While we accomplished a great deal during the second half of the year that will help position us for future success, the fourth quarter proved to be particularly challenging across our operating segments, largely due to the disappointing holiday retail season and the overall macroeconomic environment.


Must ReadView All

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search