Jones Group profit rises in Q2 despite sales drop-off

New York -- The Jones Group Inc. reported Wednesday that net income for the quarter ended June 30 soared 56% to $7.9 million, from $5 million in the year-ago period.

Sales for the parent to such brands as Nine West and Anne Klein dipped 4% to $854.8 million, missing Wall Street’s expected $865.5 million in revenue, but tightened inventory controls offset the sales decline.

"We have received very positive reactions from wholesale customers to our enhanced products across our brands that will ship in (the) fall,” said CEO Wesley Card. “And are confident that this will translate into improved retail performance and ultimately increased sales.”

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