Strong footwear sales at Jones Apparel Group
15/02/2007
In spite of strong footwear sales, US-based designer, marketer and wholesaler of branded apparel, footwear and accessories Jones Apparel Group, Inc. has reported lower revenues of $1,212.5 million for its fourth quarter, $8.5 million lower than the $1,221 million reported in the fourth quarter of 2005. The decrease has been attributed to the loss of the Polo Jeans Company business which contributed approximately $67 million in the prior year period and was partially offset by growth in the company’s core businesses.
For the full year, revenues fell $331.4 million to $4,742.8 million from the $5,074.2 million posted for 2005. This decrease was again primarily attributed to the loss of the Polo Jeans Company business which contributed approximately $302.2 million in the prior-year period.
In spite of the negative trend, the company saw quarter-over-quarter sales increases in its Nine West, Easy Spirit, Anne Klein and Circa Joan & David footwear brands, with total revenues for this segment rising approximately 10% from the prior year period.
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