UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
April 29, 2003
JONES APPAREL GROUP, INC.
(Exact Name of registrant as specified in its charter)
Pennsylvania
(State or Other Jurisdiction of Incorporation) | 1-10746
(Commission File Number) | 06-0935166
(IRS Employer Identification No.) |
250 Rittenhouse Circle
Bristol, PA 19007
(Address of principal executive offices)
(215) 785-4000
(Registrant's telephone number, including area code)
Item 7. Exhibits
| 99.1 | Press Release of the Registrant dated April 29, 2003.
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Item 12. Results of Operations and Financial Condition
The information under this caption is furnished by Jones Apparel Group, Inc. (the "Company") in accordance with Securities and Exchange Commission Release No. 33-8216. This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On April 29, 2003, the Company issued a press release describing its results of operations for the first quarter ended Apri1 5, 2003. A copy of the press release is attached as Exhibit 99.1 to this report.
The press release attached as Exhibit 99.1 contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. To supplement our consolidated financial statements presented in accordance with GAAP, we are presenting non-GAAP measures of adjusted selling, general and administrative expenses, operating income, net income and earnings per share, which are adjusted from results based on GAAP to exclude both certain executive compensation obligations and the cumulative effect of the adoption of SFAS No. 142, "Goodwill and Other Intangible Assets," that were recorded during the first fiscal quarter of 2002.
These non-GAAP measures are provided to enhance the user’s overall understanding of our current financial performance. Specifically, we believe the non-GAAP results provide useful information to both management and investors by excluding certain expenses that may not be indicative of our core operating results. In addition, because we have historically reported certain non-GAAP results to investors, we believe the inclusion of non-GAAP numbers provides consistency in our financial reporting. These measures should be considered in addition to results prepared in accordance with GAAP, but are not a substitute for or superior to GAAP results. The non-GAAP measures of adjusted net income and adjusted diluted earnings per share included in the attached press release have been reconciled to the equivalent GAAP measure.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| JONES APPAREL GROUP, INC.
(Registrant)By: /s/ Wesley R. Card
Wesley R. Card
Chief Operating and Financial Officer |
Date: April 29, 2003
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Exhibit Index
| Exhibit No. | Description |
| 99.1 | Press Release of the Registrant dated April 29, 2003. |
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