THE JONES GROUP INC. $15 (New York symbol JNY; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 87.1 million; Market cap: $1.3 billion; Price-to-sales ratio: 0.5; Dividend yield: 1.3%; WSSF Rating: Average) is the new name of Jones Apparel Group. The company designs clothing, accessories and footwear.
Jones sells most of its products through department stores. It also sells goods through its own retail stores. However, it plans to close 290 underperforming stores by the end of this year. That will leave it with around 800 outlets.
If you exclude store-closure and severance costs, Jones earned $45.1 million in the three months ended September 30, 2010, up 20.3% from $37.5 million a year earlier. Earnings per share rose 17.4%, to $0.54 from $0.46, on more shares outstanding. Sales rose 19.4%, to $1.0 billion from $855.7 million a year earlier.
The company should earn $1.73 a share in 2010. The stock trades at just 8.7 times that estimate.
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