Jones Posts Wider 4Q Loss

New York City Jones Apparel Group Inc. said Wednesday it posted a wider fourth-quarter loss due to hefty charges, higher promotions and a weak holiday season.

The company, whose brands include Jones New York, Nine West and Anne Klein, posted a loss of $822.9 million, compared with a loss of $89.8 million a year earlier. Revenue rose 1% to $846.9 million from $838.5 million.

"Consistent with the retail industry in general, our operating results were heavily impacted by the highly promotional climate and weak holiday season," chief executive Wesley R. Card said in a statement.

For all of 2008, the company swung to a loss of $765.4 million, compared with a profit of $311.1 million in 2007. Sales slipped to $3.62 billion from $3.85 billion a year ago.