Exhibit 99.1
FOR IMMEDIATE RELEASE
Jones Apparel Group, Inc.
Investor Contact:
John T. McClain, Chief Financial Officer
Jones Apparel Group
(212) 642-3860
Media Contacts:
Joele Frank and Sharon Stern
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
JONES APPAREL GROUP, INC. POSTPONES PROPOSED OFFERING OF
$250 MILLION OF SENIOR NOTES
NEW YORK— May 6, 2010 — Jones Apparel Group, Inc. (“Jones”) (NYSE: JNY) today announced that, as a result of unfavorable market conditions, it has postponed its previously announced public offering of $250 million in aggregate principal amount of Senior Notes due 2018 under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities.
About Jones Apparel Group, Inc.
Jones Apparel Group, Inc. (the “Company”) (www.jonesapparel.com) is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. The Company also markets directly to consumers through its chain of specialty retail and value-based stores and through its e-commerce web sites. The Company’s nationally recognized brands includeJones New York, Nine West, Anne Klein, Gloria Vanderbilt, Kasper, Robert Rodriguez, Bandolino, Easy Spirit, Evan-Picone, l.e.i., Energie, Enzo Angiolini, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Albert NiponandLe Suit. The Company also markets costume jewelry under theGivenchybrand licensed from Givenchy Corporation, women’s footwear under theDockers® andDockers®Women brands and infants’, toddlers’ and boys’ footwear (excluding girls’ footwear) under theDockers® andDockers®Premiumbrands, licensed from Levi Strauss & Co., apparel and accessories under the Rachel Roy brand licensed from Rachel Roy IP Company, LLC, and Jessica Simpson jeanswear licensed from VCJS LLC. Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. The Company 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, includingJones New York, Anne Klein New York, Nine West, Gloria Vanderbilt, l.e.i.andEvan-Picone, 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.
Forward-Looking Statements
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,” “expects,” “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 involve risks and uncertainties, including: