NEW YORK — Despite one-time charges that hurt the bottom line, The Jones Group Inc. had a good third quarter as conservative inventory planning and operating margin improvement boosted results.
Net income for the period attributable to Jones shareholders for the three months ended Sept. 29 dropped 57.6 percent to $17.4 million, or 22 cents a diluted share, from $41 million, or 49 cents, a year ago. Excluding one-time charges and other adjustments related to foreign currencies, the company said adjusted per-share profits were 57 cents versus 48 cents last year. That bested Wall Street’s adjusted expectations by 25 cents.
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