News Flash

Jones Apparel announces financial results for Q1

26 Apr '06

2 min read

Leading designer, marketer and wholesaler of branded apparel, footwear and accessories Jones Apparel Group Inc reported results for the first quarter ended April 1, 2006. Revenues totaled $1,215.3 million versus $1,349.3 million for the first quarter of 2005.

Earnings per share were $0.22 for the first quarter of 2006, as compared to $0.71 in the same period last year.

Excluding the impact of (i) loss on sale of the Polo Jeans Company business, (ii) severance and other expenses related to the strategic operating review and, (iii) the cumulative effect of change in accounting principle, adjusted earnings per share for the first quarter of 2006 was $0.66 as detailed in the accompanying schedule.

The Company's Board of Directors has declared a regular quarterly cash dividend of $0.12 per share to all common stockholders of record as of May 12, 2006 for payment on May 26, 2006.

The Company will host a conference call with management to discuss these results at 8:30 a.m. eastern time today, which is accessible by dialing 412-858-4600 or through a web cast at http://www.jny.com. The call will be recorded and made available through May 4 and may be accessed by dialing 877-344-7529. Enter account number 389399.

Jones Apparel Group Inc, a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. The Company also markets directly to consumers through our chain of specialty retail and value-based stores, and operates the Barneys New York chain of luxury stores.

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