Jones Apparel Group Q2 profits drop

26 Jul '06

4 min read

Boneparth concluded, "Overall, we were very pleased with the Company's first half financial performance as we achieved meaningful business improvements that allowed us to exceed our plan. We believe we are heading in the right direction, and remain very comfortable with the long-term prospects of the Company. However, we are not immune from the many near-term uncertainties that continue to impact our industry. In particular, volatile consumer spending patterns, consolidation in our wholesale distribution channel, historically high fuel prices and increased interest rates, combine to form meaningful obstacles for the back half of 2006. While we expect to continue achieving business process improvements, we feel it is prudent to maintain a cautious outlook for the remainder of the year. As such, we continue to target 2006 full year adjusted earnings per share of $2.19, which is consistent with our prior guidance. Over the long term, we remain confident in our multi-brand, multi-channel business model, which serves as the cornerstone of our strategy."

Jones Apparel Group Inc is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories.

Jones Apparel Group Inc

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