Boosted by better denim sales, aggressive cost controls and higher margins, Jones Apparel Group Inc. on Wednesday posted second-quarter earnings that beat Wall Street estimates by 22 cents.
For the three months ended July 4, net income rose 23.5 percent to $13.1 million, or 15 cents a diluted share, from $10.6 million, or 12 cents, in the year-ago quarter. Excluding adjustments such as the costs connected with a tender offer for notes due in November, adjusted earnings per share were 29 cents compared with the Wall Street consensus estimate of 7 cents.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)