Jones Apparel Beats Expectations

April 29, 2010 Updated: April 29, 2010

New York-based Jones Apparel Group Inc., which owns Jones New York and Nine West clothing brands, said that first-quarter profit grew to $37.5 million, or 45 cents per common share.

The company took advantage of a recovering U.S. economy to post solid sales numbers as department stores placed more orders in expectations of greater consumer spending.

Despite the news, company CEO Wesley Card said in a company statement that “consumer spending is unpredictable” and the company will continue to seek acquisition targets to grow its business and add to its brand lineup.