Jones Apparel biz performs in line with expectations for Q3
31 Oct '07
3 min read
Cash used by continuing operating activities during the period was $111 million, compared with cash provided by operating activities of $153 million in the prior year.
The decrease in cash from continuing operations was the result of lower earnings, including the costs related to our strategic initiatives and the exit of our Moderate Sportswear lines, the timing of shipments and payments for inventory, as well as the absence of the positive impact from the exit of Polo Jeans Company, which benefited last year."
Mr. Card continued, "Our guidance for 2007 full year adjusted earnings per share for continuing operations remains in the range of $1.20 to $1.25, compared to 2006 adjusted earnings per share for continuing operations of $1.94.
Our performance to date, the execution of the sale of our Barneys retail operations, the exit of our Moderate Sportswear labels, and the continued weakening in the retail environment are offset by a lower tax rate and the benefit of share repurchases."
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
