The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group's Jones New York In The Classroom Cause Program Wins American Apparel and Footwear Association's 2006 Excellence in Social Responsibility Award
NEW YORK, Jan 27, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Jones Apparel Group, Inc.'s
(NYSE: JNY) cause program, which led to the creation of the non-profit
organization, Jones New York In The Classroom, Inc., has been awarded the
American Apparel and Footwear Association's (AAFA) 2006 Excellence in Social
Responsibility Award in the general welfare category. This annual award from
the AAFA recognizes best practices in a variety of areas of social
responsibility that positively impact employees, business or community.
"This is Jones Apparel Group's investment in the future," said Peter
Boneparth, President and Chief Executive Officer of Jones Apparel Group, Inc.
"Teachers are essential to the success of our children, and Jones Apparel
Group wants to take a leadership role in providing immediate and tangible help
in the classroom, while encouraging others to join us along the way."
Established in May 2005 during National Teachers Month with a $1 million
grant from Jones Apparel Group, Jones New York In The Classroom aims to
improve the quality of education for children through the recruitment,
retention and support of teachers in America's public schools. Jones Apparel
Group commits not only dollars to Jones New York In The Classroom to support
America's teachers, but expansive human resources as well to provide the
strength needed to bring the organization to life in communities across the
country. Jones Apparel Group's employee network is encouraged to volunteer
and raise funds for Jones New York In The Classroom, which in turn has chosen
to donate funds to benefit four leading national non-profit organizations:
TeachersCount, New Teacher Academy, Fund for Teachers and Adopt-A-Classroom.
Each of these groups addresses one or more of the Jones New York In The
Classroom areas of focus.
"We believe that if we appreciate the teacher, we in turn appreciate our
children, which is exactly why Jones Apparel Group was inspired to take up
this cause," added Boneparth. Jones New York In The Classroom is taking a
multi-faceted approach to supporting teachers at critical points in their
careers, with a focus on four areas: recruitment, retention, professional
development, and recognition and support. Jones Apparel Group's long-term
financial and corporate commitment to this cause both implements corporate
programs to raise funds for Jones New York In The Classroom and allows
employees paid time off to donate their time in education facilities for pre-
kindergarten through 12th grade based in their local communities.
In its first year of operation, Jones New York In The Classroom has
received over $1.5 million from Jones Apparel Group, which it has used to
donate funds to the four non-profit beneficiaries. Jones Apparel Group has
also lent additional support to the mission of Jones New York In The Classroom
by adopting over 200 teachers and classrooms, assisting in the makeovers for
teachers and their classrooms and donating over 250,000 volunteer hours for
Jones Apparel Group corporate employees to use in educational facilities in
"We commend Jones Apparel Group for adhering to good and ethical business
practices and creating a non-profit organization to address education in the
communities where you do business, and implementing a program of support
within your own company. We believe the Excellence in Social Responsibility
Award is a terrific way to recognize your 'Best' of socially responsible
business practices, your good example and your good work," said Kevin M.
Burke, President and Chief Executive Officer, American Apparel and Footwear
Jones Apparel Group executives will accept the award at the AAFA's annual
meeting at the end of February.
Jones New York In The Classroom, Inc. is a nonprofit corporation dedicated
to improving the quality of education in America and inspiring others, both
individuals and corporations, to do the same through support of teachers and
vital teacher-based programs. For more information on Jones New York In The
Classroom and its activities, please visit http://www.jnyintheclassroom.org.
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,"
"expect," "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
-- 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
-- customer acceptance of both new designs and newly-introduced product
-- 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
-- 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
-- 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.
Stacy Lastrina, Executive Vice President, Marketing, +1-914-640-4228, or Anita Britt,
Executive Vice President Finance, +1-215-785-4000, both of Jones Apparel Group