Jones Group Inc., the parent of Nine West, reported third-quarter earnings rose 41 percent. Earnings reached $41 million, or 49 cents a share, up from $29.1
million, or 34 cents a share, a year earlier. Excluding
restructuring-related and acquisition-related costs, earnings were down
at 48 cents from 54 cents.
Revenue increased 2 percent to $1.04 billion.
“Our performance for the third quarter is a reflection of our focus on controlling costs and inventory,” Chief Executive Wesley R. Card said. “Despite a promotional retail environment, we achieved results that were in line with our expectations.”
Gross margin rose to 35.7 percent from 33.5 percent on the higher sales as costs fell.
