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Knitting / Apparel

Jones Apparel Group Consolidates, Rebrands

Bristol, Pa.-based Jones Apparel Group Inc. has consolidated and rebranded certain operations. The company will record pre-tax charges of $25.5 million, or 11 cents per share, in the fourth quarter of 2002.

The company will close some Sun Apparel production facilities in Mexico, and certain warehousing and administrative facilities in Texas. Certain jobs will be eliminated, to be absorbed by the company's existing l.e.i. jeanswear manufacturing facilities.

"Our continued focus is to improve upon our efficient operating model in order to better support future expansion through both internal growth and acquisitions," said Peter Boneparth, president and CEO.

In addition, Jones Apparel plans to rebrand 20 of its 47 Enzo Angiolini retail stores that have not achieved the company's return on investment goal.

March 2003




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