• First quarter net losses reached US$1.2m
  • Sales declined 2.6% to $936m
  • "Consumer spending is unpredictable" 

The Jones Group has swung to a first-quarter loss, which it attributed to its acquisition of Stuart Weitzman and restructuring costs.

The company, which owns the Anne Klein, Easy Spirit, Jones New York, Nine West and Rachel Roy brands today (25 April) recorded a US$1.2m net loss for the quarter ended 31 March, against a $25.7m profit in the prior year.

The company said the results include costs and charges of $28m and $9m related to the acquisition of Stuart Weitzman as well as $12m in a restructuring and strategic review.

Sales declined 2.6% to $936m over the period, with CEO Wesley Card saying that while footwear, accessories and denim performed the "best at retail," traditional sportswear "remained more challenging and promotional."

"On a macroeconomic level, we are encouraged by generally rising consumer confidence and positive retail trends," he added.

"While we believe these trends should continue, the economic environment still contains mixed signals and consumer spending is unpredictable. We have made major enhancements to our fall product offerings across our brands, most importantly to our sportswear product lines.

"We remain focused on executing against our strategic pillars, that is revitalising our core brands, investing in emerging brands, expanding our international footprint, improving our direct-to-consumer performance and building on our operational excellence."