Jones Group 4th quarter revenue beats Street estimates

NEW YORK - Jones Group Inc, the fashion company behind such brands as Nine West, Stuart Weitzman, and Jones New York, reported a higher quarterly adjusted profit for the holiday quarter, and better than expected revenue, as sales of its shoes and jeans to U.S. department stores picked up.

Fourth-quarter revenue rose 8.8 percent to $971.9 million, better than the $955.3 million Wall Street was expecting, according to Thomson Reuters I/B/E/S.

Jones' net loss deepened to $80.1 million, or $1.06 per share, from $8.2 million, or 27 cents per share, a year earlier. Excluding costs such as those related to restructuring, the company earned 14 cents per share for the period ended Dec. 31, compared with 10 cents a year earlier.