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.
Revenue increased to $961.3 million from $887.3 million, surpassing Wall Street's $919.2 million.