By  on October 29, 2008

The dramatic pullback in spending by consumers reduced Jones Apparel Group Inc.’s third-quarter earnings to a fraction of what they were a year ago, but still a hair above Wall Street’s expectations.

For the three months ended Oct. 4, net income fell 93.1 percent to $27.3 million, or 33 cents a diluted share, compared with $400.1 million, or $3.97, in the year-ago quarter. Adjusted earnings per share for continuing operations were 34 cents, 1 cent higher than the consensus estimate of analysts.

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