Jones Apparel Q3 profit up, sales down
New York City Jones Apparel Group reported Wednesday its third-quarter profit rose 9% over the year-ago period, but lowered sales disappointed Wall Street.
The company, whose brands include Jones New York, Nine West and Anne Klein, said for the period ended Oct. 3, earnings rose to $29 .1 million, from $26.8 million last year.
Revenue for the quarter declined 11%, to $855.7 million from $964.7 million last year.
Analysts expected sales of $867 million.
Wesley R. Card, Jones Apparel Group president and CEO, said, “We maneuvered through this very difficult period in our economy by initiating a rigorous effort across the company focused on controlling inventories and managing costs, while simultaneously invigorating our merchandising and product initiatives. These efforts allowed us to improve operating performance in all segments in the face of an anticipated sales decline.”
So far the company has closed 69 stores and remains on track to exit about 265 locations in 2009 and 2010. Jones Apparel said it expects closing stores will save $4 million in 2009, $16 million in 2010 and $22 million in 2011, about $1 million more in both 2010 and 2011 than the company previously estimated.
PetSmart presents holiday gift list and deals
PHOENIX, Ariz. PetSmart announces its holiday gift list for their pets for this holiday season.
Homeless pets can also benefit this holiday season with Luv-A-Pet “Chance.” Chance is an overstuffed dog toy and collectable this season available for only $5. Ten% of the overall proceeds from Chance sales will go to PetSmart Charities, which has saved the lives of more than 3.6 million homeless pets.
Some items on this year’s gift list are toys and treats sold exclusively at PetSmart include: Safari Christmas animal print and jungle character toys, “Naughty” or “Nice” novelty tees, large 24″ knotted bone or the chicken-wrapped rawhide treat, squeaker mats and a large Heated Wellness Bed.
This holiday season, PetSmart are offering customers additional savings with seven consecutive weeks of discounted gifts, with a special sale on Black Friday that features hundreds of items up to 50% off.
Deals and discounts can be found at local PetSmart locations during limited-time sales on: Nov. 6-8, Nov. 13-15, Nov. 20-22, Dec. 4-6, Dec. 11-13 and Dec. 18-25.
Azek hires former OC exec
Azek Building Products, a manufacturer of PVC decking, molding and trim, has hired Rick Corry as its new VP sales. Corry will be responsible for planning and directing sales strategies and brand building for the Scranton, Pa., firm. He will oversee Azek’s regional sales managers, the VP retail sales, the key account manager and the customer service manager.
Corry worked for Owens Corning for 18 years, where he started as a field sales rep and ultimately became national director of sales. He then went on to become CEO of BuildLinks, a construction management software company.
Most recently, Corry was general manager of the Center for Creative Leadership in Greensboro, N.C., a leadership training company.
“I’m looking forward to bringing my sales and two-step distribution experience to Azek Building Products,” said Corry. “I also plan to tap into my work force performance background to help the sales force maximize their strengths and continue to support our channel partners.”