×
76 678
Fashion Jobs
URBN
Urbn Security Officer Days & Night Part-Time
Permanent · LEVITTOWN
BATH & BODY WORKS
District Manager - Hudson Valley
Permanent · YONKERS
SACKS
2nd Shift Asset Protection Associate
Permanent · LA VERGNE
SACKS
2nd Shift Inventory Control Processor
Permanent · LA VERGNE
UNDER ARMOUR
Stock Lead, ft
Permanent · DAYTONA BEACH
UNDER ARMOUR
Stock Teammate, Part-Time, $16.75 Per Hour
Permanent · ANAHEIM
UNDER ARMOUR
Stock Lead, pt
Permanent · COLUMBIA
UNDER ARMOUR
Stock Teammate, Part-Time 5:00 am Tuesday - Saturday Shift, $15.25 Per Hour
Permanent · SAN DIEGO
SALLY BEAUTY CORPORATE
Outside Sales Representative- Cosmoprof- Boise id
Permanent · BOISE
SALLY BEAUTY CORPORATE
Outside Sales Representative- Cosmoprof- Green Bay wi
Permanent · GREEN BAY
SALLY BEAUTY CORPORATE
Outside Sales Representative- Cosmoprof- Warsaw in
Permanent · WARSAW
GAP
General Manager - Arundel Mills
Permanent · HANOVER
GAP
General Manager - Santa Cruz
Permanent · SANTA CRUZ
BANANA REPUBLIC
General Manager - Foley (Riviera)
Permanent · FOLEY
OLD NAVY
Asset Protection Service Representative - Anaheim Plaza
Permanent · ANAHEIM
GAP INC.
Asset Protection Coordinator - Southpark s/c
Permanent · CHARLOTTE
OLD NAVY
Asset Protection Coordinator - Eastchase Plaza
Permanent · MONTGOMERY
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Billings
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Cape Coral
ABERCROMBIE AND FITCH CO.
sr. Manager, Digital Product Management (Remote)
Permanent · Columbus
NIKE
Distribution Center Operations Manager
Permanent · Memphis
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Rosemont
Permanent · Rosemont
By
Reuters
Published
Jan 28, 2010
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jones profit could miss expectations; shares fall

By
Reuters
Published
Jan 28, 2010

By Ben Klayman

CHICAGO, Jan 28 (Reuters) - Retailer Jones Apparel Group Inc (JNY.N) reported a preliminary fourth-quarter profit that could be below analysts' current expectations, sending its shares down nearly 7 percent on Thursday 28 January.


Grane, from Jones Apparel Group Inc - www.jonesapparel.com

The owner of the Nine West and Jones New York brands said it expected to report fourth-quarter earnings of 8 cents to 11 cents per share, excluding one-time items. The analysts' average forecast is 11 cents, according to Thomson Reuters I/B/E/S.

"This was a bit of a surprise," said Tim Ghriskey, chief investment officer with Solaris Asset Management. "The whisper out there was they might beat consensus."

Ghriskey said his firm did not hold Jones shares, but had owned them in the past and still follows the company closely.

For the year, the company expects earnings, excluding one-time items, of $1.11 to $1.14 a share. Jones is scheduled to report final fourth-quarter and full-year results on Feb. 10.

"While we continue to note positive signs of economic recovery, we are maintaining a cautious and disciplined approach to execution as the environment remains uncertain," Chief Executive Wesley Card said in a statement.

He said fourth-quarter results had improved from a year earlier because of a less promotional environment during the holiday shopping season. He said the company ended the year with $330 million in cash on hand, significantly more than it expected.

Including impairment and restructuring charges, Jones expects to report a fourth-quarter loss from continuing operations of $1.53 to $1.56 a share, and a full-year loss of $1.02 to $1.05.

Jones, whose brands also include Enzo Angiolini and Anne Klein, said it expected fourth-quarter and full-year results to include a pretax, noncash charge of about $150 million for goodwill and trademark impairment.

It also said it had closed 99 stores to date and was on track to close a total of about 265, with the remaining closures to occur throughout the year.

It expects to report a profit on an adjusted basis in its retail segment for the fourth quarter.

Shares of Jones fell $1.04, or 6.8 percent, to $14.29 in morning trading on the New York Stock Exchange. (Reporting by Ben Klayman; editing by John Wallace and Lisa Von Ahn)

© Thomson Reuters 2023 All rights reserved.