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Jones Group quarterly profit beats on improved margins
July 25, 2012 / 11:41 AM / 5 years ago

Jones Group quarterly profit beats on improved margins

* Q2 adj EPS $0.22 vs est $0.07

* Q2 rev $854.8 mln vs est $867.1 mln

* Gross margins up 1.8 percentage points

July 25 (Reuters) - Jones Group Inc, the clothing and shoe manufacturer of such brands as Nine West, Jones New York and Anne Klein, posted a quarterly profit that beat Wall Street expectations on improved gross margins.

Gross margins rose 1.8 percentage points as the company benefited from its acquisition of the Kurt Geiger brand last year, as well as improved cost and inventory controls.

Net income for the second quarter rose to $8.1 million, or 10 cents per share, from $5.2 million, or 6 cents per share, in the same period last year.

On an adjusted basis, the company earned 22 cents per share in the most recent quarter ended June 30. However, revenue in the period fell 4 percent to $854.8 million.

Analysts had expected the company to earn 7 cents per share, on revenue of $867.1 million, according to Thomson Reuters I/B/E/S.

Jones shares closed at $9.58 on Tuesday on the New York Stock Exchange. (Reporting by Arpita Mukherjee in Bangalore; editing by Anthony Kurian)

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