NEW YORK, June 5 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc. , ("Jones") recently announced that it has promoted Susan Rieland to Chief Merchandising Officer Bridge and Lifestyle Sportswear brands, effective immediately. In this new position, she will continue to have merchandising responsibility for the lifestyle brands of Jones New York Signature, Jones New York Sport and AK Anne Klein and will have added responsibility for Anne Klein New York bridge sportswear. Ms. Rieland will continue to report to Lynne Cote, Chief Executive Officer, Wholesale Sportswear, Suits and Dresses.
The Company noted that since joining Jones in 1995 as Vice President of Sales for Jones & Co, Ms. Rieland has served the Company in a number of capacities and has been a valuable contributor to the organization's success. Since 1997, Ms. Rieland has been President of Casual Design. She was the architect and creative vision of the merchandising and design of the Jones New York Signature Collection from its inception, and is credited for the current success of the Jones New York Sport Collection. Ms. Rieland recently took over the creative direction for the AK Anne Klein relaunch, and with the additional responsibility for Anne Klein New York bridge apparel, Ms. Rieland will now lead the direction of the Anne Klein bridge and better portfolio of sportswear.
Peter Boneparth, Chief Executive Officer of Jones Apparel Group, said, "Susie is a tremendous design talent and we are very pleased to be able to recognize her contributions to the Company through this promotion. She successfully led Jones New York Signature and Jones New York Sport since their inception and her creative vision and leadership have been instrumental in establishing the successful, new direction of AK Anne Klein. The designer segment is a growing business for us, and with Susie at the helm of our better and bridge segments, we are creating a halo under designer that will extend throughout Anne Klein. We are confident that her design vision will expand the value-creation potential of our brands."
Lynne Cote, Chief Executive Officer, Wholesale Sportswear, Suits and Dresses of Jones Apparel Group, said, "Since joining Jones in 1995, Susie has demonstrated her abilities in merchandising and design as well as her commitment to the Company. She has been an important contributor to the success of our portfolio as a leader and visionary. In this new role, Susie will be instrumental in securing the future of Jones' brands by reaching a broader cross-section of women seeking fashionable, quality clothing. We are excited about the future and look forward to continuing to make Jones a preferred retail partner and further capitalizing on opportunities in the marketplace."
Jones Apparel Group, Inc. (http://www.jny.com/), a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. The Company also markets directly to consumers through our chain of specialty retail and value-based stores, and operates the Barneys New York chain of luxury stores. The Company's nationally recognized brands include Jones New York, Nine West, Anne Klein, Gloria Vanderbilt, Kasper, Bandolino, Easy Spirit, Evan-Picone, Norton McNaughton, Erika, l.e.i., Energie, Enzo Angiolini, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Albert Nipon, Le Suit and Barneys New York. The Company also markets costume jewelry under the Givenchy brand licensed from Givenchy Corporation and footwear under the Dockers Women brand licensed from Levi Strauss & Co. Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. The Company primarily contracts for the manufacture of its products through a worldwide network of quality manufacturers. The Company has capitalized on its nationally known brand names by entering into various licenses for several of its trademarks, including Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select manufacturers of women's and men's products which the Company does not manufacture. For more than 30 years, the Company has built a reputation for excellence in product quality and value, and in operational execution.
Certain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding the Company's expected financial position, business and financing plans are forward-looking statements. The words "believes," "expect," "plans," "intends," "anticipates" and similar expressions identify forward-looking statements. Forward-looking statements also include representations of the Company's expectations or beliefs concerning future events that involves risks and uncertainties, including:
-- those associated with the effect of national and regional economic
conditions;
-- lowered levels of consumer spending resulting from a general economic
downturn or lower levels of consumer confidence;
-- the performance of the Company's products within the prevailing retail
environment;
-- customer acceptance of both new designs and newly-introduced product
lines;
-- the Company's reliance on a few department store groups for large '
portions of the Company's business;
-- consolidation of the Company's retail customers;
-- financial difficulties encountered by customers;
-- the effects of vigorous competition in the markets in which the Company
operates;
-- the Company's ability to identify acquisition candidates and, in an
increasingly competitive environment for such acquisitions, acquire
such businesses on reasonable financial and other terms;
-- the integration of the organizations and operations of any acquired
businesses into the Company's existing organization and operations;
-- the Company's reliance on independent foreign manufacturers;
-- changes in the costs of raw materials, labor and advertising;
-- the general inability to obtain higher wholesale prices for the
Company's products that the Company has experienced for many years;
-- the uncertainties of sourcing associated with the new environment in
which general quota has expired on apparel products (while China has
agreed to safeguard quota on certain classes of apparel products
through 2008, political pressure will likely continue for restraint on
importation of apparel);
-- the Company's ability to successfully implement new operational and
financial computer systems; and
-- the Company's ability to secure and protect trademarks and other
intellectual property rights.
-- A further description of these risks and uncertainties and other
important factors that could cause actual results to differ materially
from the Company's expectations can be found in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2005,
including, but not limited to, the Statement Regarding Forward-Looking
Disclosure and Item 1A - Risk Factors therein, and in the Company's
other filings with the Securities and Exchange Commission. Although
the Company believes that the expectations reflected in such forward-
looking statements are reasonable, such expectations may prove to be
incorrect. The Company does not undertake to publicly update or revise
its forward-looking statements as a result of new information, future
events or otherwise.
