The Jones Group Inc.
Industry: Consumer Cyclical - Apparel/Accessories
250 Rittenhouse Circle, Bristol, PA 19007
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The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N)) News Release - 29-Nov-2005

Jones Apparel Group, Inc. Announces Realignment of Management of Wholesale Apparel Businesses

NEW YORK, Nov 29, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced that Lynne Cote has been appointed to the newly created position of Chief Executive Officer - Wholesale Sportswear, Suits and Dresses. Ms. Cote will continue to report to Peter Boneparth, Chief Executive Officer.

Ms. Cote will have complete responsibility for all of Jones Apparel's wholesale sportswear, suit and dress brands including the flagship brands: Jones New York, Anne Klein New York and Nine West. Ms. Cote's new role also encompasses her current responsibilities for the Company's moderate apparel sportswear brands. The Company plans to replace Ms. Cote's prior position and has begun a search to identify possible candidates. Once this position is filled, it will report to Ms. Cote.

Mr. Boneparth commented, "Lynne has strong leadership skills and extensive experience in the design, merchandising, marketing and production of women's apparel. She has been instrumental in profitably growing existing brands and also identifying and launching new brands. This newly created position will allow Jones Apparel to: (i) better serve our wholesale customers across all channels of distribution by responding quicker to their evolving needs, (ii) have greater consistency across our wholesale apparel product categories and, (iii) leverage our infrastructure to further drive operational efficiencies."

As part of this management realignment, Jones Apparel Group, Inc. also announced the following promotions:

  • Mark Mendelson - Chief Merchandising Officer, Better Apparel. Mr. Mendelson will be responsible for the Company's wholesale merchandising and assortment activities for its better apparel divisions. This appointment will allow the Company to achieve better brand consistency across multiple product categories.
  • Susan Metzger - President - Sales and Marketing, Better Sportswear. Ms. Metzger will be responsible for leading and coordinating the sales and marketing function for all of the Company's wholesale better sportswear brands.
  • Gregg I. Marks - Chief Executive Officer, Jones Suit Divisions. Mr. Marks will be responsible for all of the Company's suit divisions.

Mr. Boneparth added, "Mark, Susan and Gregg have each demonstrated a high level of dedication and commitment to Jones Apparel Group. These promotions are in recognition of their strong respective abilities and we look forward to their valuable contributions to the future success of the Company."

In addition to Ms. Cote's current direct reports, Mr. Mendelson, Ms. Metzger, Mr. Marks, Barbara Kennedy, President - Dress Division, Howard Zwilling, President - Erika Division and Sam Tang, President - Jones International, Ltd., will also report to her.

Mr. Boneparth concluded, "Jones Apparel Group has many notable strengths, including the creation of high-quality product and superior merchandising skills. The management realignment announced today, along with the strategic operating review that we have previously announced to improve our performance, will ensure that Jones Apparel Group remains properly positioned for the long- term benefit of our shareholders."

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 New York 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 contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding the Company's expected financial position, business and financing plans are forward-looking statements. The words "believes," "expects," "plans," "intends," "anticipates" and similar expressions identify forward-looking statements. Forward-looking statements also include representations of the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including:

  • those associated with the effect of national and regional economic conditions;
  • lowered levels of consumer spending resulting from a general economic downturn or lower levels of consumer confidence or generally reduced shopping activity caused by public safety concerns;
  • the performance of the Company's products within the prevailing retail environment;
  • customer acceptance of both new designs and newly-introduced product lines;
  • the Company's reliance on a few department store groups for large portions of the Company's business;
  • consolidation of the Company's retail customers;
  • financial difficulties encountered by customers;
  • the effects of vigorous competition in the markets in which the Company operates;
  • the Company's ability to identify acquisition candidates and acquire such businesses on reasonable financial and other terms, in an increasingly competitive environment for such acquisitions;
  • the integration of the organizations and operations of any acquired businesses into the Company's existing organization and operations;
  • the Company's reliance on independent foreign manufacturers;
  • changes in the costs of raw materials, labor and advertising;
  • the general inability to obtain higher wholesale prices for the Company's products that the Company has experienced for many years;
  • the uncertainties of sourcing associated with the new environment in which quota has been eliminated on apparel products while political pressure is building for the re-imposition of quotas in certain categories; and
  • the Company's ability to secure and protect trademarks and other intellectual property rights.

A further description of these risks and uncertainties and other important factors that could cause actual results to differ materially from the Company's expectations can be found in the Company's Annual Report on Form 10- K/A for the fiscal year ended December 31, 2004, including, but not limited to, the Statement Regarding Forward-Looking Disclosure and the information concerning trends and risk factors included in Management's Discussion and Analysis of Financial Condition and Results of Operations therein, and in the Company's other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such expectations may prove to be incorrect. 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.

Wesley R. Card, Chief Operating and Financial Officer, or Anita Britt, Executive Vice President Finance, both of Jones Apparel Group, +1-215-785-4000