Clothing Giant Jones Group Intends To Lay Off 8% Stores 170

< p > April 24th evening news, the famous American a target= "_blank" href= "//www.sjfzxm.com/" > clothing < /a > production and retailer Jones group (Jones Group) (NYSE:JNY) announced on Wednesday that it plans to close some 170 poor stores in the United States by the middle of next year and reduce about 8% of its staff to help improve profitability.

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By P, the company's share price fell 4.4% before Wednesday.

Regulatory documents show that by the end of last year, the Jones group had about 6250 full-time employees and some 5540 part-time employees.

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Jones P's US business has been struggling for some time because of fierce competition, and sales declined during the holiday shopping season at the end of last year.

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< p > the company said its US retail staff will be reduced by about 18%, and the staff in the company, support and supply chain sectors will be reduced by about 2%, and it is estimated that the layoffs will lead to expenditure of about 40 million to 60 million dollars in the next 15 months.

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< p > 50 of the 170 stores that Jones is closing down has announced that they will be closed at the end of last year.

The company is also considering closing some factories.

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Jones also said that the estimated earnings per share in the first quarter were about 15 cents, less than the average 25 cents expected by analysts surveyed by P, and revenue is expected to grow by 7% to around $1 billion, which is basically the same as analysts' average forecast of 997 million US dollars.

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< p > the company expects that the second quarter revenue will be between 820 million and 850 million dollars, and the annual revenue will be between 3 billion 800 million and 3 billion 950 million, lower than market expectations.

Analysts expect the company to earn $902 million in the second quarter and $3 billion 970 million in the whole year.

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