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Jones Q1 profit down 34% on charges, costs
New York City -- Jones Group's net income fell 34% in the first quarter, weighed down by higher costs and charges tied to an acquisition.
Jones Group earned $25.9 million, compared with $39.4 million a year ago.
Jones Group said its quarterly results included about $11 million in costs and charges tied to its Stuart Weitzman acquisition and other restructuring and strategic review costs. Last year's quarter included costs and charges totaling approximately $3 million.
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Wal-Mart CEO sees progress in turning around U.S. sales
New York City -- Wal-Mart Stores is making progress bringing items and shoppers back to its U.S. stores, president and CEO Mike Duke said Tuesday at the Barclays Capital analyst conference in New York City.
Duke noted that improving the chain’s U.S. same-store sales remains its top priority. He said the chain is on its way to having the right assortment.