Footwear brands drive up Jones Group’s revenues
14/02/2013
Its footwear brands, alongside accessories, were its best performers, and its international segments performed well.
John McClain, The Jones Group chief financial officer, said: “Our financial position remains strong. We ended the year with $150 million in cash and our revolver undrawn. We are approaching our 2013 inventory commitments with conservatism, consistent with 2012. With a continued focus on inventory management, expense control, and operational efficiencies, we believe we will continue to improve margins and maintain a strong balance sheet.”
Revenue for the fourth quarter was $972 million, and for the full year, $3.8 billion.
Mr Card concluded: “We believe our new approach to brand management and creative design talent will advance the reinvigoration of our core brands. At the same time, we are concentrating our efforts on the areas we believe offer the greatest opportunity for revenue growth – upscale and contemporary brands and international.”
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