Wednesday, Jones Apparel Group Inc. (JNY) reported first-quarter net income of $0.3 million or breakeven per share, compared to $19.5 million or $0.23 per share in the same quarter last year.
On an adjusted basis, net income was $0.28 per share, compared to $0.37 per share in the year ago quarter.
On average, eight analysts polled by Thomson Reuters expected the company to earn $0.10 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter were $891 million, down 8.6% from $975 million in the comparable quarter last year. Analysts expected the company to report revenue of $875.26 million for the quarter.
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