The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
14-Apr-2005
Barneys New York Announces the Scheduled Opening of a Flagship Store Located in Copley Place in Boston, Massachusetts NEW YORK, April 14 /PRNewswire-FirstCall/ -- Barneys New York ("Barneys"),
a wholly-owned subsidiary of Jones Apparel Group, Inc. (NYSE: JNY), announced
today the scheduled opening of a Barneys New York flagship store to be located
at Copley Place in Boston, Massachusetts. The approximately 46,000-square-
foot location, which represents the first new Barneys New York flagship store
in over eleven years, is scheduled to open in Spring of 2006.
In a related development, Barneys also announced that is has agreed to
extend its lease for the approximately 6,200-square-foot store operated since
1989 in The Mall at Chestnut Hill, further evidencing the Company's commitment
to the Boston area.
Howard Socol, Chairman and CEO of Barneys, stated, "We are extremely
excited about the opening of a flagship store at Copley Place and look forward
to bringing the Barneys flagship shopping experience to Boston. The store
will carry an assortment of men's and women's apparel, accessories, shoes and
cosmetics reflective of the merchandise in our three existing flagship stores
in New York, Beverly Hills and Chicago."
Peter Boneparth, President and Chief Executive Officer, Jones Apparel
Group, Inc., added, "The Boston flagship signifies our belief in the
considerable untapped potential of the Barneys New York brand, and represents
a significant step towards the realization of the growth strategy for that
brand."
Barneys New York, a wholly-owned subsidiary of Jones Apparel Group, Inc.,
is a luxury retailer with flagship stores in New York City, Beverly Hills and
Chicago. Barneys also operates three regional full price stores, seven CO-OP
Barneys New York stores, eleven outlet stores and two semi-annual warehouse
sale events.
Jones Apparel Group, Inc. (http://www.jny.com), a Fortune 500 company, is
a leading designer, marketer and wholesaler of branded apparel, footwear and
accessories. We also market directly to consumers through our chain of
specialty retail and value-based stores, and operate the Barneys chain of
luxury stores. Our nationally recognized brands include Jones New York, Evan-
Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine
West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David, Mootsies Tootsies,
Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon, Le Suit
and Barneys New York. The Company also markets apparel under the Polo Jeans
Company brand licensed from Polo Ralph Lauren Corporation, costume jewelry
under the Tommy Hilfiger brand licensed from Tommy Hilfiger Licensing, Inc.
and the Givenchy brand licensed from Givenchy Corporation and footwear under
the Dockers Women brand licensed from Levi Strauss & Co. Each brand is
differentiated by its own distinctive styling, pricing strategy, distribution
channel and target consumer. We primarily contract for the manufacture of our
products through a worldwide network of quality manufacturers. We have
capitalized on our nationally known brand names by entering into various
licenses for several of our 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 we do not manufacture. For
more than 30 years, we have built a reputation for excellence in product
quality and value, and in operational execution.
Certain statements herein are "forward-looking statements" made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements represent The Company's expectations
or beliefs concerning future events that involve risks and uncertainties,
including the strength of the economy and the overall level of consumer
spending, the performance of the Company's products within the prevailing
retail environment, and other factors which are set forth in the Company's
2004 Form 10-K and in all filings with the SEC made by the Company subsequent
to the filing of the Form 10-K. The Company does not undertake to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
SOURCE Jones Apparel Group, Inc.; Barneys New York
CONTACT: Investor Relations - Jones Apparel Group: Wesley R. Card, Chief
Operating and Financial Officer, or Anita Britt, Executive Vice President
Finance, +1-215-785-4000, or Public Relations - Barneys New York: Dawn Brown,
Vice President Publicity, Barneys New York, +1-212-450-8699/
/Web site: http://www.jny.com /
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