Published October 24, 2012
Jones Group Inc, the fashion company behind such brands as Nine West and Jones New York, reported a higher quarterly profit before special items, helped by a rise in sales to U.S. department stores that helped it overcome a steep drop in business at its own stores in the United States.
Third-quarter revenue slipped 0.7 percent to $1.035 billion. Sales at the company's U.S. stores fell 11.1 percent, a decline partially offset by a 2.6 percent bump at its international stores. Sales of shoes to chains such as Macy's Inc rose 10.1 percent.
Net income fell to $17.8 million, or 22 cents per share, from $41.2 million, or 49 cents per share, a year earlier. Excluding items related to currency, the company earned 57 cents per share, up from 48 cents a year earlier.