Apparel, footwear and accessories group Jones Apparel Group has reported a tumble in earnings on lowered sales and weak department store trading.

Jones said third-quarter earnings per share were fell to $76.8 million from $95.8m the same period last year, while revenues totalled $1.33 billion compared to $1.30bn a year ago.

Same-store sales from owned footwear and ready-to-wear stores fell 2.9 per cent compared to a decrease of 1.1 per cent last year, while the Barneys New York luxury retail business reported a same-store sales increase of 12.1 per cent, amid good demand for luxury goods.

President and chief executive officer Peter Boneparth said: "Our third-quarter financial results surpassed our expectations. 

"We were particularly pleased with the financial performance of our wholesale better apparel businesses, the Gloria Vanderbilt moderate apparel business and the Barneys New York retail business."

Wesley Card, chief operating officer and financial officer, said: "The acquisition of Barneys New York added $133.9m to revenues during the quarter, partially offset by anticipated decreases in our wholesale better apparel, footwear and accessories business and our lei junior denim business."

Jones Apparel Group is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories under brands such as Jones New York, Gloria Vanderbilt, lei, Energie, Nine West, Anne Klein, and Barneys New York.

The company this week unveiled a new direct selling initiative called Million Wishes that will introduce the sale of accessories from home.