{"id":1004017871,"date":"2010-02-19T09:40:59","date_gmt":"2010-02-19T17:40:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004017871"},"modified":"2022-12-05T11:59:06","modified_gmt":"2022-12-05T19:59:06","slug":"jones-apparel-plans-closure-of-165-stores","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jones-apparel-plans-closure-of-165-stores\/","title":{"rendered":"Jones Apparel Plans Closure of 165 Stores"},"content":{"rendered":"<p>February 19, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004017872\" style=\"width: 160px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Jones.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004017872\" data-attachment-id=\"1004017872\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jones-apparel-plans-closure-of-165-stores\/jones\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Jones.jpg\" data-orig-size=\"500,333\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Jones\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user Paul Stevenson&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Jones.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Jones.jpg\" alt=\"\" title=\"Jones\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-1004017872\" \/><\/a><p id=\"caption-attachment-1004017872\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user Paul Stevenson<\/p><\/div>\n<p>In a statement that categorized an 8 percent decline in fourth-quarter revenues as \u201canticipated and reflective of the overall economic conditions that continue to affect retail sales in general\u201d, New York-based Jones Apparel Group announced that they will be closing 165 locations this year.<\/p>\n<p>That number is in addition to 100 stores that have already been closed. The company has not yet specified which locations are slated for closure.<\/p>\n<p>In the statement, Jones Apparel chief executive officer Wesley Card said: \u201cWe have focused on revitalizing our core brands and organizational structure and have enhanced our product offerings by acquiring new brands and developing our new partnerships. We also streamlined our supply chain and distribution networks and closed marginally profitable businesses.\u201d<\/p>\n<p>The company\u2019s brands include Jones New York, Nine West, Anne Klein, Gloria Vanderbilt, and Easy Spirit.<\/p>\n<p>Revenues for the fourth quarter were $777 million, down from $847 million a year earlier. The company ended the quarter with $333 million in cash and repaid $250 million in long-term debt during the year. That leaves a total debt balance of $529 million, according to chief financial officer John T. McClain.<\/p>\n<p>\u201cAggressive management of inventories and expenses helped conserve cash and improve margins,\u201d McClain said in the statement. \u201cWe will maintain the same approach toward spending as we manage throughout 2010.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a statement that categorized an 8 percent decline in fourth-quarter revenues as \u201canticipated and reflective of the overall economic conditions that continue to affect retail sales in general\u201d, New York-based Jones Apparel Group announced that they will be closing 165 locations this year.<\/p>\n","protected":false},"author":936,"featured_media":1004017872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21749],"tags":[],"class_list":["post-1004017871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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