This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jones Group Warns of Higher Prices

NEW YORK ( TheStreet) - Jones Group (JNY) is warnings that higher cotton costs will drive prices for clothes and shoes higher, and that the higher commodity cost has already eaten into its fourth-quarter profit.

In the fourth quarter, the company who owns Nine West, Jones New York and Anne Klein, reported a loss of $40 million, or 47 cents a share, compared with a loss of $130.3 million, or $1.53, in the year-ago period. On an adjusted basis, Jones earned 4 cents, a penny higher than estimates.

>>How to Trade Retails Rising Costs

Revenue rose 12.5% to $873.7 million, on the low-end of Jones' forecast.

Gross margin fell 3.5 percentage points to 30.8%.

CEO Wesley Card said that higher cost of cotton would continue this year and it is unclear how consumers will react. Card said Jones will protect its profits through "selective price increases."

--Written by Jeanine Poggi in New York.



>To contact the writer of this article, click here: Jeanine Poggi.

>To follow the writer on Twitter, go to http://twitter.com/jpoggi.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
JNY $14.99 0.20%
AAPL $128.70 -0.19%
FB $78.81 -0.23%
GOOG $540.78 0.54%
TSLA $230.51 1.98%

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs