Jones Group Shares Plunged: What You Need to Know

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What: Shares of clothing maker Jones Group (NYS: JNY) are going out of style today, with the stock plunging 10% after reporting third-quarter earnings this morning.

So what: The company, whose brands include Nine West and Jones New York, reported third-quarter revenue of $1.04 billion, giving way to earnings per share of $0.48. The market was looking for $1.09 billion in sales and $0.45 in earnings per share.

Now what: Jones expects full-year revenue in the range of $3.8 billion and $3.87 billion, which falls short of the $3.97 billion that analysts are calling for. The company's domestic wholesale segment fared poorly, as department stores such as Macy's (NYS: M) tread carefully with orders in the tough macroeconomic climate. Jones is seeking to focus on the pricier luxury brands going forward in order to expand margins.

Interested in more info on Jones Group? Add it to your watchlist byclicking here.

At the time this article was published Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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