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February 14, 2007
Jones Reports Losses For 2006
Jones Apparel Group reported fourth-quarter and full year losses for 2006, citing non-cash charges as a major factor.
In the fourth quarter, the group lost $270 million with a 0.7% dip in revenue. Jones had a full-year loss of $144 million with a 6.5% drop in revenue.
On a positive note, the company said that its Barneys New York stores continued to exceed expectation.
The group, which also owns Nine West and Enzo Angiolini, among other brands, is currently considering a breakup which would put Barneys on the block, according to reports.
Posted by Blacks on February 14, 2007 09:55 AM
