Really, Jones Apparel Group Inc. (NYSE: JNY) could not have picked a better day to report fourth quarter earnings whether it tried. When the government reports surprisingly strong retail sales for January, with clothes in specific up 1.4% during the month, that fact can only help a clothing retailer.

Jones, still executing its restructuring plan, said its fourth-quarter net loss narrowed to $89.8 million, or $1.06 per share, from $269.5 million, or $2.51 per share, final year. Without the gain on the sale of its high-end department-store chain, Barneys New York, and other costs, net income was nine cents per share, beating the

seven cents per share analysts had been expecting.

Jones, which exited several lines during the quarter and along with the rest of the market suffered from weak holiday shopping season, posted a 17% decline in revenue to $838.5 million from $1.01 billion final year. Analysts expected revenue of $874.8 million. To get a better feel for the retailer’s performance during the quarter, same-store sales fell 4.8%.

Continue reading Jones Apparel (JNY) shares rally after Q4 loss narrows

Original post by Melly Alazraki

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