If one is into "apparel" stocks like TOM (45-3/4) jump on board for JNY (52-7/8).
just added to Zacks 100:
Jones Apparel designs, markets and distributes women's sportswear, suits, and dresses. The company sells its merchandise under the brand names, including Jones New York, Jones & Co, Evan-Picone, Ellen Kaye, Executive Suite, Strictly Business, Factory Finale, and Rena Rowan for Saville names and Lauren by under license from Ralph Lauren name. It sells directly to department stores, specialty stores, and catalog companies and operates 4 full-price stores and over 200 outlet stores.
Jones Apparel today announced third quarter earnings per share of $0.90, 55 percent above last year's earnings of $0.58, $0.03 higher than the consensus estimates and its earlier forecast of $0.87, on 44 percent increase in revenues. The company's gross margins increased 90 basis points to 32 percent from the year-ago level with the backlog increasing 49 percent.
Sales momentum was strong with the company reporting double-digit growth across all product lines. Analysts were increasing earnings estimates for both current and next fiscal years even prior to today's third quarter earnings results and based on the latest quarter's better than expected results, strong backlog and expectations for sustained healthy retail trends, we expect them to further revise their estimates upward.
Joe PTG&LI !!! |
