Top Stocks Alert - (NYSE:JNY) Beats Estimates by 19c, Stock up

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Jones Apparel Group, Inc. (NYSE:JNY) surged 2.54% to $18.14 after its Net income was $30.4 million, or 36 cents per share, in the third quarter, up from $27.3 million, or 33 cents per share, a year earlier. Excluding items, the company earned 46 cents per share, handily topping analysts' average estimate of 27 cents per share, according to Thomson Reuters I/B/E/S. Total revenue fell 11 percent to $855.7 million. It said it expects cost savings from the store closures to improve results by $4 million in 2009, $16 million in 2010 and $22 million in 2011.

Jones Apparel Group, Inc. is a designer, marketer and wholesaler of branded apparel, footwear and accessories. The Company markets its products to the consumers, through a chain of specialty retail and stores and through the e-commerce Web sites. The Company also markets costume jewelry under the Givenchy brand licensed from Givenchy Corporation, footwear under the Dockers Women brand licensed from Levi Strauss & Co., and apparel under the Rachel Roy brand licensed from Rachel Roy IP Company, LLC. The Company operates in five business segments: wholesale better apparel, wholesale jeanswear, wholesale footwear and accessories, retail, and licensing.

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