NEW YORK — Jones Apparel Group and Liz Claiborne on Wednesday each posted second-quarter declines in income, but Liz managed a slight gain in revenues compared with its competitor, which had a loss in revenue as well.
Income at Jones for the three months ended July was down 33.2 percent to $36.6 million, or 32 cents a diluted share, from $54.8 million, or 46 cents, in the same year-ago quarter. Total revenues declined by 8.7 percent to $1.07 billion from $1.18 billion last year, which included a 9.1 percent drop in sales to $1.06 billion from $1.17 billion.
Peter Boneparth, president and chief executive officer, said in a statement that adjusted second-quarter results were stronger than expected due primarily to the continuation of trends experienced in the first quarter, such as a better wholesale apparel business.
“We are very pleased with the performance of our Barneys New York luxury retail business, which generated a comparable store sales increase of 8.9 percent in the quarter as its continues to exceed our expectations,” Boneparth said.
Jones said that revenues decreased in the quarter primarily to the sale of its Polo Jeans Co. business during the first quarter of 2006.
At Liz, income for the three months ended July 1 fell by 27.2 percent to $39.4 million, or 38 cents a diluted share, from $54.1 million, or 50 cents, in the same year ago quarter. Sales rose by 2.4 percent to $1.13 billion from $1.10 billion.
“The company performed reasonably well during the second quarter. The strength and diversity of our portfolio enabled us to offset under-performance in some of our businesses with strong performances in other areas,” said Paul R. Charron, chairman and chief executive officer, in a statement.
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