US: Jones Apparel promotes Friedman to unit CEO
Jones Apparel Group Inc has promoted Jay Friedman to the post of chief executive officer of its company-owned retail footwear and apparel unit.
Mr Friedman, who previously served as president, company-owned retail footwear and apparel, will continue to report to Andrew Cohen, chief executive officer, footwear, accessories and retail.
Wesley R Card, Jones Apparel Group president and chief executive officer, said: "Jay is a key member of our senior management team, and I am pleased with all that he and his team have accomplished to date to begin the turnaround of our retail operations."
Mr Cohen added: "Under Jay's leadership, the team has implemented a number of initiatives to improve the performance of the retail chain, including enhancing merchandise assortments throughout our stores and remodelling and refreshing our store environments to enhance the consumer's overall shopping experience."
Jones Apparel's brands include brands include Jones New York, Nine West, Anne Klein, Gloria Vanderbilt, Kasper, Bandolino, Easy Spirit, l.e.i., and Joan & David.
Jones Apparel Group has swung to a full year loss of US$765.4m after being hit by an impairment charge, promotional markdowns and a weak holiday season....
Jones Apparel Group has elected Robert L Mettler and Margaret H Georgiadis to the company's board of directors....
Jones Apparel Group today (22 January) lowered its full-year earnings guidance after being forced to discount its clothing as the retail environment "significantly worsened" during its fourth quarter....
Shares in Jones Apparel Group rallied by as much as 41% after the company amended its existing US$1.25bn revolving credit facilities....
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