×
71 911
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time, Metro Pointe
Permanent · COSTA MESA
BLOOMINGDALE'S
Asset Protection Detective, Part Time - ny 59th st
Permanent · NEW YORK
BLOOMINGDALE'S
Registry Consultant, Full Time, 59th Street
Permanent · NEW YORK
UNDER ARMOUR
Stock Lead, ft
Permanent · BALTIMORE
UNDER ARMOUR
Stock Lead, ft
Permanent · OKLAHOMA CITY
UNDER ARMOUR
Stock Lead, ft
Permanent · NASHVILLE
MARSHALLS
Weekend Loss Prevention Specialist
Permanent · Philadelphia
HOMEGOODS
lp Detective 822
Permanent · Cobb
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Lawrence Township
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Lebanon
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Leominster
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Santa Rosa
FOOT LOCKER
Creative Director
Permanent · St. Petersburg
FOOT LOCKER
Tax Manager, us Federal Tax Accounting & Compliance
Permanent · New York
FOOT LOCKER
sr. Director Creative Lockers & North America
Permanent · New York
FOOT LOCKER
Human Resources Generalist - Hybrid
Permanent · St. Petersburg
FOOT LOCKER
Senior Digital Marketing Manager
Permanent · New York
JCPENNEY
Asset Protection Associate - Fashion Valley Mall
Permanent · San Diego
JCPENNEY
Asset Protection Associate - Sun Valley Mall
Permanent · Concord
JCPENNEY
Asset Protection Associate - Mall of Georgia
Permanent · Buford
JCPENNEY
Sales Floor Supervisor - Rosedale s/c
Permanent · Roseville
JCPENNEY
Asset Protection Associate - Four Seasons Town ct
Permanent · Greensboro
By
Reuters
Published
Jan 23, 2011
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jones Group hits 18-month low on weak results

By
Reuters
Published
Jan 23, 2011

Jones
NEW YORK | Fri Jan 21, 2011 - (Reuters) - Jones Group Inc (JNY.N) shares hit their lowest point in nearly 18 months a day after the apparel and footwear company reported weak preliminary holiday quarter results and warned it would struggle with high cotton costs in 2011.

Shares in Jones Group, whose brands include Nine West, Jones New York and Anne Klein, were down 11 percent to $12.21 in morning trading on Friday, their lowest point since July 30, 2009.

Jones said on Thursday after the market closed that it expects its fourth quarter earnings to fall short of expectations.

The company will report definitive quarterly results on February 9.

Chief Executive Wesley Card said in a statement on Thursday that consumers would resist higher price tags on clothes despite the sharp increase in cotton prices, and that consumers still needed deep discounts to shop during the recent holiday season.

Earlier this month, rival Liz Claiborne Inc (LIZ.N), whose shares fell 2.8 percent on Friday, also said discounts to woo shoppers had hurt December sales.

Cotton prices nearly doubled in 2010 forcing retailers to choose between losing sales if shoppers balk at higher prices, or taking a hit to margins.

In October 27, Jones Group reported third quarter results that also missed Wall Street forecasts, sending shares plummeting.

"The stock is unlikely to get much support until it stops missing expectations," Lazard analyst Todd Slater said in a note to clients on Friday.

Shares have fallen by nearly half since late April.

(Reporting by Phil Wahba; Editing by Derek Caney)

© Thomson Reuters 2023 All rights reserved.