Jones Group to cut domestic retail jobs, stores

Jones Group Inc , the fashion company behind such brands as Nine West and Jones New York, said it will close about 170 underperforming domestic outlets by mid-2014 and cut its domestic retail staff by about 18 percent.

The company expects to incur costs of about $40 million to $60 million over the next 15 months related to the plan.

The company also forecast first-quarter adjusted earnings of about 15 cents per share on revenue of about $1 billion.

(Reporting by Siddharth Cavale in Bangalore; Editing by Sreejiraj Eluvangal)