After announcing
disappointing
earnings, Jones Apparel Group Inc. said it intends to exit or sell some of
its so-called moderate product lines. Although it did not name specific
brands, CEO Peter Boneparth said these lines would represent $300 million in
net revenue in 2007. However, Boneparth indicated that Jones' denim and junior
divisions, such as Gloria Vanderbilt, l.e.i., Energie, GLO, Jeanstar and
Grane, are not on the for-sale rack,
according
to the Apparel Analyst. Last year Jones Apparel put itself up for sale but
then decided not to sell when no satisfactory offers were made. Since the
failed auction, the media has been speculating about a possible sale of
Barneys. —Matthew Wurtzel
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