|
NEW YORK, Dec. 15 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY) today announced the selection of the SAP Apparel and Footwear
solution as the core enterprise system for the Company. An agreement has been
concluded and signed by Jones Apparel Group, Inc. and SAP. The implementation
of the SAP Apparel and Footwear solution is now in progress within the
Companys apparel businesses.
Peter Boneparth, President and Chief Executive Officer, commented, "The
selection of the SAP Apparel and Footwear software announced today, along with
the strategic operating review and actions that we have previously announced
to improve our performance, will ensure that Jones Apparel Group remains
properly positioned for the long-term benefit of our shareholders. The
implementation of the SAP Apparel and Footwear software is a key enabler of
our ongoing efforts to eliminate redundancies and enhance our overall cost
structure and margin performance. In addition, we believe that the SAP
Apparel and Footwear software is the platform best suited to meet the
Companys growing business needs."
"We are very pleased that Jones Apparel Group has selected SAP to replace
existing solutions as part of their efforts to improve operational excellence,
and are proud to add such a prestigious name to our growing list of fashion
apparel, footwear and retail customers," said Bill McDermott, President and
Chief Executive Officer, SAP America, Inc. "Standardization of business
processes and increased visibility across entities is essential to long-term
success for todays businesses. Implementation of SAPs industry solution will
enable Jones Apparel Group to more efficiently manage their operations as they
continue to execute their business strategy."
Jones Apparel Group, Inc. (http://www.jny.com), a Fortune 500 company, is
a leading designer, marketer and wholesaler of branded apparel, footwear and
accessories. We also market directly to consumers through our chain of
specialty retail and value-based stores, and operate the Barneys New York
chain of luxury stores. Our nationally recognized brands include Jones New
York, Evan-Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i.,
Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David,
Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein,
Albert Nipon, Le Suit and Barneys New York. The Company also markets apparel
under the Polo Jeans Company brand licensed from Polo Ralph Lauren
Corporation, costume jewelry under the Tommy Hilfiger brand licensed from
Tommy Hilfiger Licensing, Inc. and the Givenchy brand licensed from Givenchy
Corporation and footwear under the Dockers Women brand licensed from Levi
Strauss & Co. Each brand is differentiated by its own distinctive styling,
pricing strategy, distribution channel and target consumer. We primarily
contract for the manufacture of our products through a worldwide network of
quality manufacturers. We have capitalized on our nationally known brand names
by entering into various licenses for several of our trademarks, including
Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt
and l.e.i., with select manufacturers of womens and mens products which we
do not manufacture. For more than 30 years, we have built a reputation for
excellence in product quality and value, and in operational execution.
Certain statements contained herein are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
All statements regarding the Companys expected financial position, business
and financing plans are forward-looking statements. The words "believes,"
"expects," "plans," "intends," "anticipates" and similar expressions identify
forward-looking statements. Forward-looking statements also include
representations of the Companys expectations or beliefs concerning future
events that involve risks and uncertainties, including:
- those associated with the effect of national and regional economic
conditions;
- lowered levels of consumer spending resulting from a general economic
downturn or lower levels of consumer confidence or generally reduced
shopping activity caused by public safety concerns;
- the performance of the Companys products within the prevailing retail
environment;
- customer acceptance of both new designs and newly-introduced product
lines;
- the Companys reliance on a few department store groups for large
portions of the Companys business;
- consolidation of the Companys retail customers;
- financial difficulties encountered by customers;
- the effects of vigorous competition in the markets in which the Company
operates;
- the Companys ability to identify acquisition candidates and acquire
such businesses on reasonable financial and other terms, in an
increasingly competitive environment for such acquisitions;
- the integration of the organizations and operations of any acquired
businesses into the Companys existing organization and operations;
- the Companys reliance on independent foreign manufacturers;
- changes in the costs of raw materials, labor and advertising;
- the general inability to obtain higher wholesale prices for the
Companys products that the Company has experienced for many years;
- the uncertainties of sourcing associated with the new environment in
which quota has been eliminated on apparel products while political
pressure is building for the re-imposition of quotas in certain
categories; and
- the Companys ability to secure and protect trademarks and other
intellectual property rights.
A further description of these risks and uncertainties and other important
factors that could cause actual results to differ materially from the
Companys expectations can be found in the Companys Annual Report on Form 10-
K/A for the fiscal year ended December 31, 2004, including, but not limited
to, the Statement Regarding Forward-Looking Disclosure and the information
concerning trends and risk factors included in Managements Discussion and
Analysis of Financial Condition and Results of Operations therein, and in the
Companys other filings with the Securities and Exchange Commission. Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, such expectations may prove to be incorrect. The
Company does not undertake to publicly update or revise its forward-looking
statements as a result of new information, future events or otherwise.
|
|
