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Jones Group

Headquarters: 1411 Broadway
New York, NY 10118
Employees: 6,250
CEO: Wesley Card
Stock Symbol: JNY

Website: http://www.jny.com

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Jones Group is a leading designer, marketer and wholesaler of high-quality apparel, footwear and accessories primarily for women with over 35 brands.

The Company's internationally recognized brands and licensing agreements (L) include: Nine West, Jones New York, Anne Klein, Kurt Geiger, Rachel Roy (L), Robert Rodriguez, Robbi & Nikki, Stuart Weitzman, Brian Atwood (L), Boutique 9, Easy Spirit, Carvela, Gloria Vanderbilt, l.e.i., Bandolino, Enzo Angiolini, Nine & Co., GLO, Joan & David, Miss KG, Kasper, Energie, Evan-Picone, Le Suit, Mootsies Tootsies, Grane, Erika, Napier, Jessica Simpson (L), Givenchy (L), Judith Jack, Albert Nipon, Pappagallo and Rafe (L).

Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. The Company contracts for the manufacture of its products through a worldwide network of quality manufacturers. The Company has capitalized on its nationally known brand names by entering into various licenses for several of its trademarks, including Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select manufacturers of women's and men's products which the Company does not manufacture.

The company's operations are comprised of six reportable segments: domestic wholesale sportswear, domestic wholesale jeanswear, domestic wholesale footwear and accessories, domestic retail, international wholesale and international retail.

At the end of 2012, the company operated 594 retail locations, which includes 185 specialty retail stores and 409 outlet stores.

Corporate offices are in NYC with financial offices in Bristol, PA.

In 2012, Jones Apparel reported revenues of $3.798 billion, up from $3.785 billion, and net loss of $56.1 million.

The company said in April it plans to close 170 underperforming domestic retail stores by mid-2014. Upon completion, The Jones Group expects to operate a smaller and more productive chain of domestic stores, with outlet stores comprising a significantly higher percentage of the overall retail portfolio.

It also plans to reduce domestic retail staff by approximately 18% and corporate, support and supply chain staff by approximately 2%, for a total headcount reduction of approximately 8% upon completion.

History

Sidney Kimmel founded and became President of the Jones Apparel Division of W.R. Grace & Co. in 1970. In 1975, Kimmel and a partner bought the company from Grace and incorporated it as Jones Apparel Group. Through consistently high design and quality merchandising, marketing and advertising, Jones has become one of the finest names in the women's apparel business.

Jones Apparel went public on the NYSE in 1991.

In 1993, Jones purchased the Evan Picone label and in 1995 established a licensing agreement with Ralph Lauren.

In 2004, Jones acquired Maxwell Shoe Co. and Barney's New York.

The company sold the chain of Barney's New York stores in 2007 for $945 million in cash to an affiliate of Istithmar PJSC, a Dubai based private equity and alternative investment house.

Updated April 28, 2013

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