Jones Group (JNY) Tops Q3 EPS by 14c

Jones Group (NYSE: JNY) reported Q3 EPS of $0.02, $0.14 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $835.2 million versus the consensus estimate of $832.06 million.

Wesley R. Card, The Jones Group Chief Executive Officer, stated: "Second quarter revenues were in line with our expectations, with the Jeanswear segment registering the largest improvement in operating results, as those product lines continue to perform well. The International Wholesale segment also showed improved operating results, led by the Nine West and Stuart Weitzman international businesses. For other areas of the business, the weather impacted seasonal product sales, which generated higher promotional levels. As a result, second quarter gross margins were approximately 260 basis points below last year. We anticipate we will achieve improved performance in fall 2013 with our new and refocused sportswear product offerings."

For earnings history and earnings-related data on Jones Group (JNY) click here.

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