Jones Apparel Consolidates Denim Plants
New York City, After reviewing its denim manufacturing facilities, Jones Apparel Group will be closing the laundry, assembly and distribution operations located in San Luis, Mexico. All manufacturing will be consolidated into existing operations in Durango and Torreon, Mexico. The consolidation will result in an annual savings of $5.0 million, the company said. The company also said it incurred a charge of approximately $3.2 million in the second quarter as a result of an arbitration award to a former employee.
Office Depot Burns Rubber
Delray Beach, Fla., Office Depot has signed a new multi-year deal to be the primary sponsor of the No. 99 Roush Racing Ford, driven by Carl Edwards beginning in the 2006 Nascar Nextel Cup season.
Saks to Close Private-Label Division
Birmingham, Ala., Saks Inc. has announced that its Saks Fifth Avenue Enterprises segment will close its private-label brand and its product-development division by the end of September. Saks cites its reason as a desire to focus on upscale designer merchandise.
The company said that it will provide assistance to the 15 employees in the product development division, but did not disclose whether it expects to record any one-time charges or gains from the action.