NEWS: The Jones Group reported a 67 percent spike in third-quarter net income with costs and charges a third of what they were during the same period last year.
DETAILS: The cost of goods sold declined to $662.4 million from $670.8 million. Selling, general and administrative expenses dropped to $296.5 million from $301.9 million.
The clothing and accessories maker also declared a quarterly dividend of 5 cents per share. The dividend will be paid on Nov. 29 to shareholders of record on Nov. 15.
NUMBERS: The Jones Group Inc. earned $28.3 million, or 38 cents per share, for the period ended Oct. 5. That compares with $17 million, or 22 cents per share, in the prior-year period.
The latest quarter includes costs and charges totaling $12 million, versus $35 million a year ago.
Stripping out acquisition-related costs and other items, earnings were 48 cents per share. A year earlier it reported adjusted earnings of 57 cents per share.
Analysts polled by FactSet expected earnings of 42 cents per share.
Revenue dipped 2 percent to $1.02 billion from $1.04 billion. The performance still managed to meet Wall Street's forecast.
STOCK: On Tuesday the shares closed at $15.32. The stock is up 39 percent for the year to date.