87 206
Fashion Jobs
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · CLERMONT
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · DACULA
KOHLS
Technical Project Manager, Remote
Permanent · MENOMONEE FALLS
NAVY EXCHANGE
Vending Operations Clerk PT
Permanent · FALLON
NAVY EXCHANGE
Director, Facility Design %26 Construction
Permanent · VIRGINIA BEACH
NAVY EXCHANGE
Buyer (Level i And Level II) - Various Categories
Permanent · VIRGINIA BEACH
SPECIALIZED
Brand Development Manager - Michigan
Permanent · LANSING
ECCO
Third Keyholder
Permanent · ELIZABETH
ECCO
Third Keyholder
Permanent · LAS VEGAS
ECCO
Sales Manager - National Accounts (Remote)
Permanent · LONDONDERRY
ECCO
Third Keyholder
Permanent · ROSEMONT
LULULEMON
Community Specialist | Summit, Springfield Ave
Permanent · SUMMIT
LULULEMON
Expeditor | Cherry Creek
Permanent · DENVER
LULULEMON
Community Specialist | Friendly Center
Permanent · GREENSBORO
NORDSTROM
Customer Service Representative - Hillsdale Shopping Center
Permanent · SAN MATEO
NORDSTROM
Retail Stock - Mercer Mall Rack
Permanent · LAWRENCE TOWNSHIP
NORDSTROM
Manager- Service Experience- Baton Rouge Mall Rack
Permanent · BATON ROUGE
NORDSTROM
Retail Stock - Sugar House Rack
Permanent · SALT LAKE CITY
NORDSTROM
Asset Protection - Agent - Aventura
Permanent · AVENTURA
NORDSTROM
Retail Stock - Northwoods Rack
Permanent · SAN ANTONIO
NEIMAN MARCUS
Business Manager Tom Ford, Beauty (PT, 35 Hours) - FT. Worth
Permanent · FORT WORTH
NEIMAN MARCUS
Sales Manager, Designer Rtw
Permanent · CORAL GABLES
By
Reuters
Published
Jul 26, 2012
Download
Download the article
Print
Text size

Margin improvements to continue at Jones Group

By
Reuters
Published
Jul 26, 2012

Jones Group Inc, the maker of clothes and shoes under such brands as Nine West, Jones New York and Anne Klein, expects to build on efforts to improve gross margins that lifted its quarterly profit above Wall Street expectations.


Anne Klein / Photo: Jones Group


Jones has been shutting underperforming stores, including 29 in the quarter, getting rid of slow moving inventory and introducing products to cash in on the latest fashion trends.

The company expects gross margins to increase by 70 basis points or more for the full year as it continues to adjust inventory levels and close stores, a company executive said on a conference call with analysts.

Inventory was down 11 percent at $468 million at the end of second quarter.

Most of the company's second-quarter gross margins increase of 1.80 percentage points was driven by its acquisition of upscale British brand Kurt Geiger last year.

Net income for the second quarter rose to $8.1 million, or 10 cents per share, from $5.2 million, or 6 cents per share, a year earlier.

Excluding items, the company earned 22 cents per share for the quarter ended June 30. However, revenue in the period fell 4 percent to $854.8 million.

Analysts had expected the company to earn 7 cents per share, on revenue of $867.1 million, according to Thomson Reuters I/B/E/S.

Jones shares were up 5 percent at $10.09 on Wednesday morning on the New York Stock Exchange. They earlier touched a high of $10.35.

© Thomson Reuters 2024 All rights reserved.