Jones Group Posts Loss In Q2

(RTTNews) - New York-based fashion company Jones Group, Inc. (JNY) reported a second quarter net loss attributable to the company of $3.4 million, compared to a profit of $8.1 million in the previous year. On a per share basis, loss was $0.05, compared to earnings per share of $0.10 in 2012.

Adjusted earnings per share were $0.02 for the second quarter of 2013, while it was $0.22 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share for the quarter. Analysts estimates typically exclude special items.

Adjusted results exclude charges related to impairments of certain intangible assets, the impact of severance and other costs related to restructuring activities, certain acquisition-related costs and other costs not considered relevant for period-over-period comparisons.

Total revenues for the quarter declined to $845.6 million from $854.8 million in the year-ago quarter. Analysts estimated revenues of $832.06 million for the quarter.

Wesley Card, chief executive officer stated, "We believe that we are better positioned for the second half of the year, as we continue to focus on enhancing profitability."

The board has also declared a regular quarterly cash dividend of $0.05 per share, to stockholders of record on August 16, 2013, payable on August 30.