Jones drops talks on jeans unit sale
The New York-based company, whose brands include Anne Klein and Rachel Roy, plans to maintain ownership and normal operations of the division, it said in a statement.
In October last year, Jones said it was in talks with Delta Galil Industries Ltd (DELT.TA), an Israeli private-label clothing maker, to sell its jeans unit for $350-$400 million to focus on its more profitable luxury brands.
Separately, Delta Galil said it continues to actively pursue other growth opportunities.
The company's shares had closed at $9.31 on Friday on the New York Stock Exchange.
(Reporting by Ranjita Ganesan; Editing by Viraj Nair)
© Thomson Reuters 2017 All rights reserved.