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Wednesday, November 4, 2009 |
Q3 web sales grew for Jones Apparel while retail sales shrank
The web was the only major sales channel that grew for Jones Apparel Group Inc. in the third quarter.
For the quarter ended Oct. 3, Jones, No. 271 in the Internet Retailer Top 500 Guide, reported:
- Web sales increased 44.8% to $9.7 million from $6.7 million.
- Total sales decreased 11.3% year over year to $855.7 million from $964.7 million.
- The web accounted for 1.1% of total sales compared with 0.7% in the third quarter of 2008.
- Retail sales dropped 3.6% to $167.0 million from $173.2 million.
- Wholesale footwear and accessories revenue decreased 18.5% to $242.0 million from $297.0 million
- Comparable-store sales declined 3.2%.
“I feel we are still on track to increase sales from last year from $32 million in total web-based sales to just about $50 million for 2009 and we should be able to build on that again in 2010,” Jones Apparel CEO Wesley Card told Wall Street analysts on the company’s recent third quarter earnings call.
For the first three quarters, Jones reported:
- Web sales increased 62.7% to $30.1 million from $18.5 million.
- Total sales decreased 7.9% year over year to $2.55 billion from $2.77 billion.
- Retail sales dropped 7.1% to $492.0 million from $529.5 million.
- Wholesale footwear and accessories revenue decreased 14.4% to $631.5 million from $737.8 million.
“All sites have been increasing in sales,” Card told analysts.
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