Jones Group forecasts weak Q4, Q1 revenue
The maker and retailer of clothing, shoes and accessories now expects fourth-quarter revenue of $892-$895 million, down from its previous outlook of $918-$961 million. Analysts were expecting revenue of $940 million for the quarter, according to Thomson Reuters I/B/E/S.
Jones Group also projected first-quarter revenue of $930-$955 million, while analysts were expecting $1.02 billion.
On Monday, the company said it dropped talks with Israeli private label apparel maker Delta Galil Industries Ltd about the potential sale of its struggling jeans division.
Jones Group shares closed at $9.09 on Monday on the New York Stock Exchange. (Reporting by Arpita Mukherjee in Bangalore; Editing by Viraj Nair)
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