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Hoover's Online Report BuilderJones Apparel Group, Inc. (NYSE: JNY)

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Table of ContentsThe Basics...............................................................................................................................................................................1

Key Numbers.............................................................................................................................................................1Financial Overview....................................................................................................................................................1Officers & Employees................................................................................................................................................2Board Members..........................................................................................................................................................3Industry Information..................................................................................................................................................3SIC Codes...................................................................................................................................................................4NAICS Codes.............................................................................................................................................................4Top Competitors.........................................................................................................................................................4All Competitors..........................................................................................................................................................5Rankings.....................................................................................................................................................................5Subsidiaries/Affiliates Covered By Hoover's Online.................................................................................................5

Biographies............................................................................................................................................................................6 Sidney Kimmel, Age 76............................................................................................................................................6 Peter Boneparth, Age 44...........................................................................................................................................6 Wesley R. (Wes) Card, Age 56.................................................................................................................................6 Ira M. Dansky, Age 48..............................................................................................................................................6 Anita Britt, Age 40....................................................................................................................................................7 Amanda J. Bokman...................................................................................................................................................7 Patrick M. Farrell, Age 54.........................................................................................................................................7 Efthimios P. Sotos.....................................................................................................................................................8 Joseph Donnalley......................................................................................................................................................8 Rhonda J. Brown, Age 48.........................................................................................................................................8 Heather Pech.............................................................................................................................................................9 Gloria DiPuma..........................................................................................................................................................9 Fran Boland...............................................................................................................................................................9 Howard Gittis, Age 70..............................................................................................................................................9 Matthew H. Kamens, Age 52..................................................................................................................................10 J. Robert Kerrey, Age 59.........................................................................................................................................10 Anthony F. Scarpa, Age 60.....................................................................................................................................10 Geraldine Stutz, Age 75..........................................................................................................................................11 Michael L. Tarnopol, Age 66..................................................................................................................................11

Overview..............................................................................................................................................................................12

History..................................................................................................................................................................................13

Products/Operations...........................................................................................................................................................14

Other Resources Available On Hoover's Online..............................................................................................................16Other Resources.......................................................................................................................................................16Related Products From Our Trusted Partners..........................................................................................................16

Annual Financials................................................................................................................................................................17

Quarterly Financials...........................................................................................................................................................19

Report Builder − Jones Apparel Group, Inc. − Hoover's Online

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Table of ContentsHistorical Financials & Employees....................................................................................................................................22

Market Data.........................................................................................................................................................................24

Comparison Data.................................................................................................................................................................25

Competitive Landscape.......................................................................................................................................................27

Report Builder − Jones Apparel Group, Inc. − Hoover's Online

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The Basics

250 Rittenhouse CircleBristol, PA 19007 (Map)http://www.jny.com

Phone: 215−785−4000Fax: 215−785−1795

Jones Apparel Group isn't content with keeping up −− it wants to set the pace. The firm has transformed itself from asupplier of designer−alternative career wear into a provider of a wide range of women's clothing and shoes. Brandsinclude Jones New York, Evan−Picone, and Rena Rowan. Subsidiary Nine West Group, bought in 1999, designs shoes(Easy Spirit, Enzo Angiolini, Bandolino, Gloria Vanderbilt); Gloria Vanderbilt and l.e.i., both acquired in 2002, designtwill and denim casual wear, swimwear, accessories, and footwear, among other things. The company owns and operatesabout 920 retail and outlet stores. Jones also offers men's casual sportswear. Warren Buffett's Berkshire Hathaway owns7% of the company.

Key Numbers

Company Type Public (NYSE: JNY)

Fiscal Year−End December

2003 Sales (mil.) $4,375.3

1−Year Sales Growth 1.5%

2003 Net Income (mil.) $328.6

1−Year Net Income Growth 3.2%

2002 Employees 20,785

1−Year Employee Growth 24.5%

Auditor BDO Seidman, LLP

Financial Overview

Last Close 23−Mar−2004 $35.78

52−Week High $38.18

52−Week Low $25.81

Basic EPS $2.48

Price/Earnings Ratio 14.43

Current Ratio 2.31

R&D Expense (mil.) −−

Advertising Expense (mil.) −−

% Owned by Institutions 90.60%

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Officers & Employees

Title Name Age Salary Bonus

Chairman Sidney Kimmel 76 $1,200,000 $2,500,000

President, CEO, and Director Peter Boneparth 44

COO and CFO Wesley R. (Wes) Card 56 $600,000 $800,000

EVP, General Counsel, andSecretary

Ira M. Dansky 48

EVP, Domestic Manufacturing Ronald Harrison

EVP, Finance and InvestorRelations

Anita Britt 40

EVP, Foreign Manufacturing Martin Marlowe

EVP, Sales and Distribution John Sammaritano

SVP; CFO, Norton McNaughtonModerate Apparel Division

Amanda J. Bokman

SVP and CTO Paul Lanham

SVP and Corporate Controller Patrick M. Farrell 54

SVP and Treasurer Efthimios P. Sotos

SVP, Corporate Marketing Stacy Lastrina

SVP, Corporate Taxation andRisk Management

Joseph Donnalley

SVP, Human Resources Aida Tejero−DeColli

SVP, Marketing and Advertising Stacey Lastrino

Group CEO, Jeans Isaac Dabah

Group President, Jones NewYork, Easy Spirit, and RenaRowan

Susan Metzger

President and CEO, CostumeJewelry Division

Robert Andreoli

President and CEO, Footwear,Accessories and Retail Group;President and CEO, Nine WestGroup and Jones Retail

Rhonda J. Brown 48

President, Casual Design, JonesNew York, Easy Spirit, and RenaRowan

Susan Rieland

President, Gloria VanderbiltDivision

Jack Gross

President, Licensing Mary Belle

President, Merchandising for Mark Mendelson


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Career Collection, Nine West

President, Polo Jeans Heather Pech

President and CEO, CanadianDivision

Mary Ann Curran

CFO, Denim−Based Collection Tami Fersko

CFO, Footwear, Accessories andRetail Group

Gloria DiPuma

CEO, Victoria + Co andHandbags and Small LeatherGoods Division

Jackie Corso

CEO, Women's ModerateSportswear

Lynne Cote

President of Sales, LEI Spencer Rosenheck

Chief Designer, LEI Susan Geliebter

VP, Sourcing, Nine West Alan Luchette

Controller, Denim−BasedCollection

Joe Kaelin

VP Sales and Marketing, NortonMcNaughton Division

Fran Boland

Board Members

Title Name Age

Chairman Sidney Kimmel 76

President, CEO, and Director Peter Boneparth 44

Director Howard Gittis 70

Director Matthew H. Kamens 52

Director J. Robert Kerrey 59

Director Anthony F. Scarpa 60

Director Geraldine Stutz 75

Director Michael L. Tarnopol 66

Industry Information

Consumer Products ManufacturersApparel

Women's Clothing (primary)◊ Footwear◊ Men's Clothing◊

♦

Personal Care ProductsFragrance◊

♦

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RetailApparel & Accessories Retail♦

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SIC Codes

2321 Men's & boys' shirts

2325 Men's & boys' trousers & slacks

2329 Men's & boys' clothing, nec

2331 Women's &misses' blouses & shirts

2335 Women's, &misses' dresses

2337 Women's &misses' suits and coats

2339 Women's &misses' outerwear, necs

2384 Robes and dressing gowns

2387 Apparel belts

2389 Apparel and accessories, nec

2844 Toilet preparations

3144 Women's footwear, except athletic

3149 Footwear, except rubber, nec

3171 Women's handbags and purses

5136 Men's and boys' clothing

5137 Women's and children's clothing

5139 Footwear

NAICS Codes

315211 Men's and Boys' Cut and Sew Apparel Contractors

315212 Women's, Girls', and Infants' Cut and Sew Apparel Contractors

31522 Men's and Boys' Cut and Sew Apparel Manufacturing

315223 Men's and Boys' Cut and Sew Shirt (except Work Shirt) Manufacturing

315224 Men's and Boys' Cut and Sew Trouser, Slack, and Jean Manufacturing

315232 Women's and Girls' Cut and Sew Blouse and Shirt Manufacturing

315233 Women's and Girls' Cut and Sew Dress Manufacturing

315234 Women's and Girls' Cut and Sew Suit, Coat, Tailored Jacket, and Skirt Manufacturing

31621 Footwear Manufacturing

316214 Women's Footwear (except Athletic) Manufacturing

325620 Toilet Preparation Manufacturing

448120 Women's Clothing Stores

448210 Shoe Stores

Top Competitors

AnnTaylor• Brown Shoe• Liz Claiborne•





All Competitors

AnnTaylor• Bally• bebe stores• Berkshire Hathaway• Bernard Chaus• Bill Blass• Brown Shoe• Cache• Calvin Klein• Candie's• Casual Corner• Chico's FAS• Coach• Coldwater Creek• Donna Karan• Ellen Tracy• Etienne Aigner• Gucci• IT Holding• J. Jill Group• Kasper• Kenneth Cole• Liz Claiborne• Marisa Christina• Maxwell Shoe• Nordstrom• Payless ShoeSource• Phillips−Van Heusen• Polo Ralph Lauren• St. John Knits• Salvatore Ferragamo• Skechers U.S.A.• Steven Madden• Talbots• VF• The White House•

Rankings

#375 in FORTUNE 500 • S&P 500•

Subsidiaries/Affiliates Covered By Hoover's Online

Kasper A.S.L., Ltd.• McNaughton Apparel Group Inc.• Nine West Group Inc.•






































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Biographies

Sidney Kimmel, Age 76

Chairman, $1,200,000 salary, $2,500,000 bonus

Biography

Mr. Kimmel founded the Jones Apparel Division of W.R. Grace & Co. in 1970. Mr. Kimmel has served as our Chairmansince 1975 and as Chief Executive Officer from 1975 to May 2002.

Source: 10K, March 12, 2004

Peter Boneparth, Age 44

President, CEO, and Director

Other Company Affiliations

Company Title Salary Bonus

Nine West Group Inc. President and CEOBiography

Mr. Boneparth was named President in March 2002 and Chief Executive Officer in May 2002. He also serves as ChiefExecutive Officer of McNaughton. He has been Chief Executive Officer of McNaughton since June 1999, President ofMcNaughton from April 1997 until January 2002, and Chief Operating Officer of McNaughton from 1997 until itsacquisition by us. Prior to that time, Mr. Boneparth was Executive Vice President and Senior Managing Director ofInvestment Banking for Rodman & Renshaw, Inc., an investment banking firm, from March 1995 to April 1997.


Wesley R. (Wes) Card, Age 56

COO and CFO, $600,000 salary, $800,000 bonus

Biography

Mr. Card has been our Chief Financial Officer since 1990. He was also named Chief Operating Officer in March 2002.


Ira M. Dansky, Age 48

EVP, General Counsel, and Secretary



Biography

Mr. Dansky has been our General Counsel since 1996 and our Secretary since January 2001. He was elected an ExecutiveVice President in March 2002.


Anita Britt, Age 40

EVP, Finance and Investor Relations

Biography

Ms. Britt was named Executive Vice President of Finance in May 2002. She served as Director of Investor Relations andFinancial Planning from 1996 to August 2000, Vice President, Finance and Investor Relations from September 2000 toFebruary 2001 and Senior Vice President, Finance and Investor Relations from March 2001 to April 2002.


Amanda J. Bokman

SVP; CFO, Norton McNaughton Moderate Apparel Division



McNaughton Apparel Group Inc. VP, CFO, Secretary, and TreasurerBiography

Ms. Bokman joined Jones Apparel Group in June 2001 through the acquisition of McNaughton Apparel Group, Inc.where she held the position of Vice President, Chief Financial Officer, Secretary and Treasurer from 1992 through thedate of the merger.

Source: Company Press Release, June 10, 2002

Patrick M. Farrell, Age 54

SVP and Corporate Controller

Biography

Mr. Farrell was appointed Vice President and Corporate Controller in November 1997 and Senior Vice President inSeptember 1999.




Efthimios P. Sotos

SVP and Treasurer

Biography

Mr. Sotos began with the Company as Assistant Treasurer of the Nine West Group in 1995, and most recently held theposition of Corporate Vice President and Treasurer of Jones Apparel Group.

Source: Company Press Release, May 31, 2002

Joseph Donnalley

SVP, Corporate Taxation and Risk Management

Biography

Prior to joining Jones Apparel Group in 1995, Mr. Donnalley was Vice President Corporate Taxes for PNC Bank, N.A.Mr. Donnalley previously held the position of Vice President Corporate Taxes and Risk Management with Jones ApparelGroup.

Source: Company Press Release, May 31, 2002

Rhonda J. Brown, Age 48

President and CEO, Footwear, Accessories and Retail Group; President and CEO, Nine West Group and JonesRetail



Nine West GroupInc.

President and CEO, Footwear, Accessories and Retail Group; President and CEO,Nine West and Jones Retail

Recent Work Highlights

Nine West Group Inc.Title held until 2004: President and CEO♦

•

Biography

Ms. Brown joined us as President and Chief Executive Officer of Nine West Group and President and Chief ExecutiveOfficer of Footwear, Accessories and Retail Group in October 2001. Prior to joining us, Ms. Brown served as President ofSteve Madden, Ltd. from February 2000 to September 2001. Ms. Brown also served as Chief Operating Officer of SteveMadden, Ltd. from July 1996 to January 2001 and as a director of that company from October 1996 to September 2001.






Heather Pech

President, Polo Jeans

Biography

Ms. Pech has almost 20 years experience in the apparel industry. She joined Jones Apparel Group in 1990, most recentlyserving as Group President of Jones New York Sport, Jones Jeans, Easy Spirit, Jones Studio and Rena Rowan.

Source: Company Press Release, September18, 2003

Gloria DiPuma

CFO, Footwear, Accessories and Retail Group

Biography

Gloria DiPuma was promoted to the position of Chief Financial Officer − Footwear, Accessories and Retail Group ofJones Apparel Group, Inc., in October 2002. In this capacity, Ms. DiPuma will oversee the financial operation for thewholesale footwear and accessories businesses and the Nine West Retail Group. Ms. DiPuma joined Jones Apparel Groupin June 1999 through the acquisition of Nine West Group Inc. where she has served, since 1993, in various seniorfinancial and operational roles. Ms. DiPuma will continue to report directly to Rhonda Brown, President and CEO,Footwear, Accessories and Retail Group.

Source: Company Press Release, October 16, 2002

Fran Boland

VP Sales and Marketing, Norton McNaughton Division



McNaughton Apparel Group Inc. VP Sales and Marketing, Norton McNaughton Division

Howard Gittis, Age 70

Director



Loral Space & Communications Ltd. Director

MacAndrews & Forbes Holdings Inc. Co−Vice Chairman





M&F Worldwide Corp. Chairman, President, and CEO

Panavision Inc. Vice Chairman

REV Holdings LLC Vice Chairman and Manager

Revlon, Inc. Director

Scientific Games Corporation DirectorRecent Work Highlights

Golden State Bancorp Inc.Last position held, Director♦

•

Biography

Mr. Gittis has been Vice Chairman and Chief Administrative Officer and a director of MacAndrews & Forbes HoldingsInc., a diversified holding company, and various of its affiliates since July 1985. In addition, Mr. Gittis is a director ofLoral Space and Communications Ltd., M&F Worldwide Corp., Panavision Inc., Revlon, Inc., Revlon Consumer ProductsCorporation and Scientific Games Corporation.


Matthew H. Kamens, Age 52

Director

Biography

Mr. Kamens is employed by Mr. Kimmel as a lawyer and personal advisor. He is also Of Counsel to the law firm of Wolf,Block, Schorr and Solis−Cohen LLP, where he served as its Chairman from 1995 to 2001.


J. Robert Kerrey, Age 59

Director

Biography

Mr. Kerrey has served as the President of New School University in New York City since January 2001. From 1988 to2000, he served as United States Senator from Nebraska. During that period, he was a member of numerouscongressionally−chartered commissions and Senate committees, including the Senate Finance and AppropriationsCommittees and the Senate Select Committee on Intelligence. Prior to that time, he served as Governor of Nebraska from1982−1987. Mr. Kerrey also serves on the Board of Directors of InfoUSA and Tenet Healthcare Corporation.


Anthony F. Scarpa, Age 60







Director

Biography

Mr. Scarpa served as Senior Vice President and Division Executive of J.P. Morgan Chase Bank from 1985 until hisretirement in December 2000.


Geraldine Stutz, Age 75

Director

Biography

Ms. Stutz has been a principal partner of GSG Group, a fashion and marketing service, since 1993. Prior to 1993, she wasPublisher of Panache Press at Random House, a book publisher. From 1960 until 1986, Ms. Stutz was President of HenriBendel. Ms. Stutz has served on the Board of Directors of Tiffany & Co., The Theatre Development Fund and The Actors'Fund.


Michael L. Tarnopol, Age 66

Director



The Bear Stearns Companies Inc. Vice Chairman, Bear Stearns & Co.Biography

Mr. Tarnopol is a Senior Managing Director, Chairman of the Investment Banking Division and Vice Chairman of theBoard of Directors of Bear, Stearns and Co. Inc. Mr. Tarnopol joined Bear Stearns in 1975, became a Partner in 1975, andheld executive positions in its Mergers and Acquisitions and International departments prior to its conversion from apartnership to a corporation in 1985. Thereafter, he became a Senior Managing Director of the corporation.




Overview

Jones Apparel Group isn't content with keeping up −− it wants to set the pace. The firm has transformed itself from asupplier of designer−alternative career wear into a provider of a wide range of women's clothing and shoes. Brandsinclude Jones New York, Evan−Picone, and Rena Rowan. Subsidiary Nine West Group, bought in 1999, designs shoes(Easy Spirit, Enzo Angiolini, Bandolino, Gloria Vanderbilt); Gloria Vanderbilt and l.e.i., both acquired in 2002, designtwill and denim casual wear, swimwear, accessories, and footwear, among other things. The company owns and operatesabout 920 retail and outlet stores. Jones also offers men's casual sportswear. Warren Buffett's Berkshire Hathaway owns7% of the company.

Its products are manufactured −− mainly by third parties −− in Asia, Latin America, and the US. Footwear is made inChina, Brazil, and Italy.

Jones also licenses its Jones New York and Evan−Picone brand names to other makers of women's and men's apparel andaccessories; it has an exclusive license as well with Polo Ralph Lauren to manufacture and sell Lauren−brand products inCanada, Mexico, and the US. The company is expanding its successful Bandolino shoe line to include apparel and hasadded jewelry to its Gloria Vanderbilt line.

In January 2003 Jones announced plans to close some of its manufacturing facilities, cut jobs, and convert most of itsAngiolini shoe stores into Bandolino stores.

Later the same year, Jones filed a legal claim against Polo Ralph Lauren for claims that the designer attempted to renegeon its license for Lauren−branded apparel. Polo claimed that the licenses for Ralph and Lauren by Ralph Lauren werelinked by way of their respective success. In 2002 the Ralph brand brought in less than half of the sales required tomaintain the license agreement; the Lauren brand, on the other hand, has far exceeded its minimal revenue requirementand brought in more than $500 million.) At issue is whether the Lauren license will remain in effect until its contract endsin late 2006.

On the spending side, Jones Apparel acquired Kasper, maker of Anne Klein, in late 2003. The deal allows Jones Apparelto make up for some of the revenue lost in its fracas with Polo Ralph Lauren. In March 2004, Jones Apparel launched ahostile $297 million takeover bid for shoemaker Maxwell Shoe as it continues expansion in the footwear −− and AnneKlein−− market. Jones would then consolidate its Anne Klein apparel business with Maxwell's Anne Klein footwearbusiness. The offer for Maxwell Shoe is below the stock price.

The company also plans to shut down the Rena Rowan business by the end of 2004.






History

When diversifying chemical firm W. R. Grace & Co. began a brief foray into the fashion world in 1970, it hired SidneyKimmel to run the show. Kimmel had worked in a knitting mill in the 1950s and served as president of women'ssportswear maker Villager in the 1960s. He and his companion, designer Rena Rowan, created Grace's fashionable butmoderately priced Jones New York line.

Kimmel and Grace accountant Gerard Rubin bought Grace's fashion division in 1975, incorporating it as Jones ApparelGroup. Jones expanded quickly by bringing out new labels and licensing others, such as Christian Dior. Talks to sell thecompany to underwear maker Warnaco fell through in 1981.

Tapping into two trends of the early 1980s, Jones Apparel offered the sweatsuit fashions of Norma Kamali and in 1984acquired the license for the Gloria Vanderbilt line from Murjani. Swan−adorned Gloria Vanderbilt jeans had beenmust−haves early in the decade, but the deal turned into an ugly duckling as costs beyond Jones Apparel's control pushedthe company into the red. (Meanwhile, Kimmel produced the films 9 1/2 Weeks and Clan of the Cave Bear and led agroup that briefly controlled the Famous Amos Cookie Co.)

Creditors forced Jones Apparel to unload most of its brands −− all but Jones New York, Saville, and Christian Dior −−and cut jobs, and by 1988 it was profitable again. Kimmel bought Rubin's interest in the company in 1989 and took itpublic in 1991, retaining about half of the stock.

In the early 1990s, as recession−minded shoppers looked for bargains and the American workplace became more casual,Jones again took off. The company expanded with new lines, such as Rena Rowan (inexpensive suits) and Jones & Co.(career casuals). Jones Apparel moved into women's accessories with the 1993 purchase of the Evan−Picone brand name.

Two years later the company struck its first licensing agreement with Polo Ralph Lauren, for the Lauren by Ralph Laurenline of women's sportswear. Propelled by the new line, Jones reached $1 billion in sales in 1996. The company ended itslong−held licensing agreement with Christian Dior the next year.

Jones Apparel licensed Ralph by Ralph Lauren, a lower−priced juniors' line, in 1998. That year it purchased Sun Apparel,picking up the rights to Todd Oldham and Polo jeans, and in 1999 it bought the remaining clothing, footwear, cosmetics,and apparel rights to the youth−oriented Oldham name.

The firm then made its biggest acquisition by far when it paid $1.4 billion for shoe designer and retailer Nine West Group(Easy Spirit, Enzo Angiolini, Bandolino, Amalfi).

With the Nine West purchase, Jones Apparel inherited an FTC investigation into the footwear designer's pricing policies.The company closed several Nine West facilities in 1999, cutting about 1,900 jobs, followed by the sale of its retailoperations in Canada (1999), Asia (2000), and the UK (2001). In 2000 Jones Apparel bought costume jewelry designerand marketer Victoria + Co. for $90 million. It purchased mid−market clothing designer McNaughton Apparel Group in2001.

Continuing its acquisition spree, the company agreed to purchase Gloria Vanderbilt Apparel in March 2002 for about$140 million. The company said that year that it planned to open 15−20 retail stores and close 30−40 underperforminglocations. In May president Peter Boneparth was named CEO, after Kimmel stepped down (he remains as chairman).Jones Apparel bought RSV Sport, maker of l.e.i. jeanswear for girls, in August 2002 and with it came a foray intoswimwear, watches, belts, sunglasses, outerwear, and children's apparel that went beyond licensing.

In 2003, Jones Apparel began phasing out its Rena Rowan line.


Products/Operations

Jones Apparel Group's products are manufactured primarily by contractors in Asia, Latin America, and the US. They aresold in Australia, Canada, and the US.

2003 Sales

$ mil. % of total

Wholesale better apparel 1475.034

Wholesale moderate apparel 1310.230

Wholesale footwear & accessories868.3 20

Retail 685.6 16

Other 36.2 −

Total 1475.3100

2003 Stores

No.

Nine West retail 217

Easy Spirit retail 145

Nine West outlet 134

Jones New York outlet 127

Easy Spirit outlet 101

Kasper outlet 70

Enzo Angiolini retail 24

Bandolino retail 16

Anne Klein outlet 12

Others, including apparel 38

Total 884

Selected Brand Affiliates

9 & Co.• Albert Nipon• Anne Klein• Bandolino• Calico• Capezio (licensed)• Easy Spirit• Enzo Angiolini• Esprit (licensed)• Evan−Picone• Givenchy (jewelry) (licensed)• Gloria Vanderbilt• JNY Sport• Jones New York• Jones Wear• Judith Jack• Kasper• Napier•


Nine West• Polo Jeans Company (licensed)• Rena Rowan• Richelieu• Tommy Hilfiger• Westies•

Archived Charts

2002 Sales $ mil. % of totalWholesale better apparel 1,636.4 38Wholesale moderate apparel 1,093.5 25Wholesale footwear & accessories 882.3 21Retail 700.0 16

Total 4,312.2 100

2001 Stores No.Retail Nine West 210 Easy Spirit 150 Enzo Angiolini 47 Apparel 13 Outlet Nine West 136 Banister/Easy Spirit 111 Stein Mart (leased) 98 Jones New York 84 Jones New York Country 45 Jones New York Sport 21 Others 29

Total 944

2001 Sales $ mil. % of totalWholesale apparel 2,369 58Retail 712 17Wholesale footwear & accessories 967 24Other 25 1 Adjustment (25) −

Total 4,048 100


Other Resources Available On Hoover's Online

News for Jones Apparel (last 90 days)

Company Press Release Archive

Other Resources

Headquarters Map• SEC Filings

10−K Filings♦ •

Stock Quote• Stock Chart• Earnings Estimates• ValuEngine Analysis• Annual Report • Investor Relations • Financial Data Definitions• Market Data Definitions• Comparison Data Definitions• Historical Financials & Employees Definitions•

Related Products From Our Trusted Partners

Buy Reports and Books

D&B Business/Credit Reports: Jones Apparel Group, Inc.(D&B, Feb 1, 2004, Business Reports)

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Jones Apparel Group, Inc.: Company Profile(Datamonitor, Feb 1, 2004, Business Reports)

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Quantitative Report for JNY(ValuEngine, Inc., Jan 1, 2004, Business Reports)

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Retail Travail: Selling in a Wal−Mart World(Hoover's, Inc., Feb 1, 2004, Business Reports)

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Apparel − Clothing Mfg Deluxe Set(Harris Industry Reports, Aug 12, 2003, Business Reports)

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Apparel & Accessories Retail: Financial Analysis Profiles(BizMiner, Dec 23, 2003, Business Reports)

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Children's and Infants' Clothing Stores in the US(IBISWorld, Nov 23, 2003, Business Reports)

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Holiday 2002 Postmortem: Strong Holiday Sales Must Not Cause Retailersto Grow Complacent(Jupitermedia Corporation, Mar 13, 2003, Business Reports)

•

Additional 3rd Party Libraries

Additional Research On Jones Apparel

Corporate Hierarchy •


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Annual Financials

All amounts in millions of US Dollars

Income Statement Dec 03 Dec 02 Dec 01

Revenue 4,375.3 4,312.2 4,048.3

Cost of Goods Sold 2,639.1 2,568.2 2,482.7

Gross Profit 1,736.2 1,744.0 1,565.6

Gross Profit Margin 39.7% 40.4% 38.7%

SG&A Expense 1,056.9 1,093.3 978.6

Depreciation & Amortization 99.5 88.8 131.9

Operating Income 579.8 561.9 455.1

Operating Margin 13.3% 13.0% 11.2%

Nonoperating Income 6.0 34.3 29.3

Nonoperating Expenses 58.8 62.7 84.6

Income Before Taxes 527.0 533.5 399.8

Income Taxes 198.4 201.2 163.6

Net Income After Taxes 328.6 332.3 236.2

Continuing Operations 328.6 332.3 236.2

Discontinued Operations 0.0 0.0 0.0

Total Operations 328.6 332.3 236.2

Total Net Income 328.6 318.5 236.2

Net Profit Margin 7.5% 7.4% 5.8%

Diluted EPS from Continuing Operations ($) 2.48 2.46 1.82

Diluted EPS from Discontinued Operations ($) 0.00 0.00 0.00

Diluted EPS from Total Operations ($) 2.48 2.46 1.82

Diluted EPS from Total Net Income ($)

Dividends per Share 0.16 0.00 0.00

Balance Sheet Dec 03 Dec 02 Dec 01

Assets

Current Assets

Cash 350.0 283.3 76.5

Net Receivables 385.8 389.3 395.8

Inventories 590.6 529.6 572.9


Other Current Assets 129.5 116.0 95.8

Total Current Assets 1,455.9 1,318.2 1,141.0

Net Fixed Assets 268.4 249.3 242.5

Other Noncurrent Assets 2,463.4 2,285.1 1,990.0

Total Assets 4,187.7 3,852.6 3,373.5

Liabilities and Shareholders' Equity Dec 03 Dec 02 Dec 01

Current Liabilities

Accounts Payable 244.6 230.2 216.7

Short−Term Debt 180.8 6.3 7.7

Other Current Liabilities 203.6 190.8 153.8

Total Current Liabilities 629.0 427.3 378.2

Long−Term Debt 835.1 978.1 976.6

Other Noncurrent Liabilities 55.7 45.1 32.5

Total Liabilities 1,649.9 1,549.1 1,468.1

Shareholders' Equity

Preferred Stock Equity 0.0 0.0 0.0

Common Stock Equity 2,537.8 2,303.5 1,905.4

Total Equity 2,537.8 2,303.5 1,905.4

Shares Outstanding (mil.) 126.2 128.4 125.7

Cash Flow Statement Dec 03 Dec 02 Dec 01

Net Operating Cash Flow 455.0 716.5 562.4

Net Investing Cash Flow (274.5) (368.7) (160.3)

Net Financing Cash Flow (114.7) (141.1) (387.2)

Net Change in Cash 66.7 206.8 16.0

Depreciation & Amortization 99.5 88.8 131.9

Capital Expenditures (313.9) (390.2) (209.8)

Cash Dividends Paid (20.2) 0.0 0.0

Data Definitions

Some financial information provided by Media General Financial Services, Inc. , Richmond, Virginia


http://www.mgfs.com

Quarterly Financials

All amounts in millions of US Dollars except per share amounts.

Income StatementQuarter

Ending Dec 03Quarter

Ending Sep 03Quarter

Ending Jun 03Quarter Ending

Mar 03Quarter

Ending Dec 02

Revenue 1,002.7 1,171.1 974.7 1,226.7 954.8

Cost of Goods Sold 602.1 727.0 579.7 730.2 582.6

Gross Profit 400.6 444.1 395.0 496.5 372.2

Gross Profit Margin 40.0% 37.9% 40.5% 40.5% 39.0%

SG&A Expense 270.6 264.4 249.4 272.4 297.5

Depreciation & Amortization 28.3 25.1 23.5 22.6 20.0

Operating Income 101.7 154.6 122.1 201.5 54.7

Operating Margin 10.1% 13.2% 12.5% 16.4% 5.7%

Nonoperating Income (20.7) 10.8 6.8 9.0 11.1

Nonoperating Expenses 14.3 14.7 14.8 15.0 14.9

Income Before Taxes 66.7 150.7 114.1 195.5 82.8

Income Taxes 24.9 56.8 43.0 73.7 31.2

Net Income After Taxes 41.8 93.9 71.1 121.8 51.6

Continuing Operations 41.8 93.9 71.1 121.8 51.6

Discontinued Operations 0.0 0.0 0.0 0.0 0.0

Total Operations 41.8 93.9 71.1 121.8 51.6

Total Net Income 41.8 93.9 71.1 121.8 51.6

Net Profit Margin 4.2% 8.0% 7.3% 9.9% 5.4%

Diluted EPS from ContinuingOperations ($)

0.33 0.71 0.54 0.90 0.39

Diluted EPS fromDiscontinued Operations ($)

0.00 0.00 0.00 0.00 0.00

Diluted EPS from TotalOperations ($)

0.33 0.71 0.54 0.90 0.39

Diluted EPS from Total NetIncome ($)

Dividends per Share 0.08 0.08 0.00 0.00 0.00

Balance SheetQuarter

Ending Dec 03Quarter

Ending Sep 03Quarter

Ending Jun 03Quarter Ending

Mar 03Quarter

Ending Dec 02

Assets


Current Assets

Cash 350.0 194.2 347.5 95.1 283.3

Net Receivables 385.8 620.9 432.7 722.8 389.3

Inventories 590.6 554.9 584.4 531.9 529.6

Other Current Assets 129.5 128.0 121.1 116.6 116.0

Total Current Assets 1,455.9 1,498.0 1,485.7 1,466.4 1,318.2

Net Fixed Assets 268.4 256.5 257.9 256.6 249.3

Other Noncurrent Assets 2,463.4 2,308.3 2,274.9 2,277.1 2,285.1

Total Assets 4,187.7 4,062.8 4,018.5 4,000.1 3,852.6

Liabilities andShareholders' Equity

QuarterEnding Dec 03

QuarterEnding Sep 03

QuarterEnding Jun 03

Quarter EndingMar 03


Current Liabilities

Accounts Payable 244.6 200.3 241.2 208.2 230.2

Short−Term Debt 180.8 180.5 180.4 7.2 6.3

Other Current Liabilities 203.6 186.2 163.5 229.7 190.8

Total Current Liabilities 629.0 567.0 585.1 445.1 427.3

Long−Term Debt 835.1 831.3 828.6 998.4 978.1

Other Noncurrent Liabilities 55.7 48.8 46.6 53.1 45.1

Total Liabilities 1,649.9 1,554.5 1,567.5 1,596.6 1,549.1

Shareholders' Equity

Preferred Stock Equity 0.0 0.0 0.0 0.0 0.0

Common Stock Equity 2,537.8 2,508.3 2,451.0 2,403.5 2,303.5

Total Equity 2,537.8 2,508.3 2,451.0 2,403.5 2,303.5

Shares Outstanding (mil.) 126.2 126.1 127.0 128.0 128.4

Cumulative Cash FlowStatement


QuarterEnding Sep 03

QuarterEnding Jun 03

Quarter EndingMar 03


Net Operating Cash Flow 455.0 76.5 122.2 (167.8) 716.5

Net Investing Cash Flow (274.5) (62.6) 3.9 12.3 (368.7)

Net Financing Cash Flow (114.7) (103.6) (63.0) (33.1) (141.1)

Net Change in Cash 66.7 (89.1) 64.2 (188.2) 206.8

Depreciation & Amortization 28.3 25.1 23.5 22.6 20.0

Capital Expenditures (313.9) (94.4) (33.4) (12.5) (390.2)


Cash Dividends Paid (20.2) (10.1) 0.0 0.0 0.0

Data Definitions



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Historical Financials & Employees

Income Statement

YearRevenue

($ mil.)Net Income

($ mil.)Net Profit

MarginEmployees

Dec 03 4,375.3 328.6 7.5% −−

Dec 02 4,312.2 318.5 7.4% 20,785

Dec 01 4,048.3 236.2 5.8% 16,690

Dec 00 4,120.5 301.9 7.3% 13,860

Dec 99 3,129.8 188.4 6.0% 22,350

Dec 98 1,669.4 154.9 9.3% 8,685

Dec 97 1,372.5 121.7 8.9% 3,135

Dec 96 1,021.0 80.9 7.9% 2,945

Dec 95 776.4 63.5 8.2% 2,560

Dec 94 633.3 54.9 8.7% 2,325

Stock History

YearStock Price ($) P/E Per Share ($)

FYHigh

FYLow

FYClose

High Low Earns. Div.BookValue

Dec 03 37.4 25.6 35.2 15.1 10.3 2.5 0.2 20.1

Dec 02 41.7 26.2 35.4 16.9 10.6 2.4 0.0 17.9

Dec 01 47.4 23.8 33.2 26.1 13.0 1.8 0.0 15.2

Dec 00 35.0 20.1 32.2 14.1 8.1 2.5 0.0 12.3

Dec 99 35.9 21.5 27.1 22.4 13.4 1.6 0.0 10.1

Dec 98 37.8 15.9 22.1 25.7 10.8 1.5 0.0 5.7

Dec 97 28.7 16.1 21.5 25.4 14.2 1.1 0.0 4.3

Dec 96 18.7 8.9 18.7 24.6 11.7 0.8 0.0 3.6

Dec 95 9.9 5.7 9.8 16.5 9.4 0.6 0.0 3.0

Dec 94 8.9 5.5 6.4 17.2 10.6 0.5 0.0 2.4

2003 Year−End Financials

Debt ratio 32.9%

Return on equity 12.9%

Cash ($ mil.) 350.0

Current ratio 2.31

Long−term debt ($ mil.) 835.1


Shares Outstanding (mil.) 126.2

Dividend yield 0.5%

Dividend payout 6.5%

Market Cap ($ mil.) 4,446.0

Data Definitions



http://www.mgfs.com

Market Data

Current Information

Last Close 23−Mar−2004 $35.78 Price/Sales Ratio 1.03

52−Week High $38.18 Price/Book Ratio 1.78

52−Week Low $25.81 Price/Earnings Ratio 14.43

60−Month Beta 1.2 Price/Cash Flow Ratio 10.55

Market Cap (mil.) $4,512.0 Return on Assets 7.8%

Shares Outstanding (mil.) 126.1 Return on Equity 12.9%

Dividend Rate 0.24 Current Ratio 2.31

Dividend Yield 0.7% Long−Term Debt/Equity 0.33

# of Institutional Holders 893 % Owned by Institutions 90.6%

Latest Short Interest Ratio 2.30 Latest Net Insider Transactions 0.00

Growth Rates 12 Month 36 Month 60 Month

Revenue Growth 1.5% 2.5% 17.8%

EPS Growth 0.8% 3.1% 10.8%

Dividend Growth −− −− −−

Data Definitions



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Comparison Data

Profitability Company Industry 1 Market 2

Gross Profit Margin 39.68% 39.78% 48.25%

Pre−Tax Profit Margin 12.04% 7.20% 6.92%

Net Profit Margin 7.51% 4.14% 4.05%

Return on Equity 12.9% 9.3% 7.9%

Return on Assets 7.8% 5.0% 1.3%

Return on Invested Capital 9.7% 6.9% 3.8%

Valuation Company Industry 1 Market 2

Price/Sales Ratio 1.03 0.93 1.37

Price/Earnings Ratio 14.43 22.98 33.17

Price/Book Ratio 1.78 2.09 2.66

Price/Cash Flow Ratio 10.55 13.50 13.40

Operations Company Industry 1 Market 2

Days of Sales Outstanding 31.74 51.96 58.63

Inventory Turnover 4.7 4.0 7.6

Days Cost of Goods Sold in Inventory 76 89 47

Asset Turnover 1.1 1.3 0.3

Net Receivables Turnover Flow 11.3 7.0 6.3

Effective Tax Rate 37.6% 41.0% 41.1%

Financial Company Industry 1 Market 2

Current Ratio 2.31 2.64 1.42

Quick Ratio 1.2 1.5 1.0

Leverage Ratio 1.65 1.86 5.95

Total Debt/Equity 0.40 0.42 1.42

Interest Coverage 10.00 6.40 2.30

Per Share Data ($) Company Industry 1 Market 2

Revenue Per Share 34.70 27.49 19.90

Fully Diluted Earnings Per Sharefrom Total Operations

2.48 1.11 0.82

Dividends Per Share 0.16 0.22 0.43

Cash Flow Per Share 3.39 1.89 2.03

Working Capital Per Share 6.56 7.54 2.26

Long−Term Debt Per Share 6.62 4.37 11.10

Book Value Per Share 20.12 12.19 10.24


Total Assets Per Share 33.21 22.71 60.91

Growth Company Industry 1 Market 2

12−Month Revenue Growth 1.5% 4.5% 7.0%

12−Month Net Income Growth (1.1%) (2.3%) 147.2%

12−Month EPS Growth 0.8% (1.8%) 156.3%

12−Month Dividend Growth −− 10.0% 4.9%

36−Month Revenue Growth 2.5% 2.2% 2.5%

36−Month Net Income Growth 6.1% (2.5%) (9.3%)

36−Month EPS Growth 3.1% (6.7%) (10.0%)

36−Month Dividend Growth −− (11.0%) 2.2%1Industry: Textile−Apparel ClothingIndustry classifications are from Media General Financial Services, Inc. .

2 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.

Data Definitions



http://www.mgfs.com/html/products/resource_center/industry_groups/definitions.shtml

http://www.mgfs.com/

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Competitive Landscape

KEY: Best of Group. Companies listed are Top Competitors.

Key NumbersJones

ApparelAnnTaylor Brown Shoe Liz Claiborne

Annual Sales ($mil.) 4,375.3 1,587.7 1,832.1 4,241.1

Employees −− −− −− −−

Market Cap ($mil.) 4,512.0 1,871.9 644.1 3,944.3

ProfitabilityJones

ApparelAnnTaylor Brown Shoe Liz Claiborne Industry 2 Market 3

Gross Profit Margin 39.68% 60.15% 42.02% 47.03% 39.78% 48.25%

Pre−Tax Profit Margin 12.04% 8.90% 3.85% 10.34% 7.20% 6.92%

Net Profit Margin 7.51% 6.36% 2.56% 6.59% 4.14% 4.05%

Return on Equity 12.9% 12.7% 13.6% 17.7% 9.3% 7.9%

Return on Assets 7.8% 8.9% 6.6% 10.7% 5.0% 1.3%

Return on Invested Capital 9.7% 11.0% 10.6% 13.9% 6.9% 3.8%

ValuationJones


Price/Sales Ratio 1.03 1.18 0.35 0.93 0.93 1.37

Price/Earnings Ratio 14.43 19.42 14.17 13.96 22.98 33.17

Price/Book Ratio 1.78 2.36 1.87 2.50 2.09 2.66

Price/Cash Flow Ratio 10.55 13.34 8.26 10.26 13.50 13.40

OperationsJones


Days of Sales Outstanding 31.74 3.99 12.67 33.17 51.96 58.63

Inventory Turnover 4.7 2.9 2.8 4.7 4.0 7.6

Days Cost of Goods Sold inInventory

76 124 128 76 89 47

Asset Turnover 1.1 1.5 2.6 1.7 1.3 0.3

Net Receivables Turnover Flow 11.3 99.3 28.2 11.1 7.0 6.3

Effective Tax Rate 37.6% 39.5% 27.5% 36.2% 41.0% 41.1%

FinancialJones


Current Ratio 2.31 2.98 2.20 2.56 2.64 1.42

Quick Ratio 1.2 1.5 0.5 1.4 1.5 1.0

Leverage Ratio 1.65 1.44 2.06 1.65 1.86 5.95

Total Debt/Equity 0.40 0.16 0.35 0.29 0.42 1.42

















Interest Coverage 10.00 21.80 7.80 15.40 6.40 2.30

Per Share Data ($)Jones


Revenue Per Share 34.70 35.08 101.55 38.28 27.49 19.90

Fully Diluted Earnings Per Sharefrom Total Operations

2.48 2.13 2.52 2.55 1.11 0.82

Dividends Per Share 0.16 0.00 0.40 0.23 0.22 0.43

Cash Flow Per Share 3.39 3.10 4.32 3.47 1.89 2.03

Working Capital Per Share 6.56 8.41 15.70 7.42 7.54 2.26

Long−Term Debt Per Share 6.62 2.75 5.54 3.97 4.37 11.10

Book Value Per Share 20.12 17.52 19.08 14.24 12.19 10.24

Total Assets Per Share 33.21 25.18 39.24 23.53 22.71 60.91

GrowthJones


12−Month Revenue Growth 1.5% 15.0% (0.5%) 14.1% 4.5% 7.0%

12−Month Net Income Growth (1.1%) 25.8% 3.8% 21.0% (2.3%) 147.2%

12−Month EPS Growth 0.8% 23.8% 0.0% 18.1% (1.8%) 156.3%

12−Month Dividend Growth −− −− 0.0% 0.0% 10.0% 4.9%

36−Month Revenue Growth 2.5% 8.5% 3.0% 10.6% 2.2% 2.5%

36−Month Net Income Growth 6.1% 34.7% 58.8% 15.4% (2.5%) (9.3%)

36−Month EPS Growth 3.1% 31.5% 57.7% 14.5% (6.7%) (10.0%)

36−Month Dividend Growth −− −− 0.0% 0.0% (11.0%) 2.2%

1 Data unavailable.2 Industry: Textile−Apparel ClothingIndustry classifications are from Media General Financial Services, Inc. .3 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.

Data Definitions









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