Jones Apparel Group Inc. Reports 2010 First Quarter Results

The following notable events have recently occurred:

• completed the acquisition of the Robert Rodriguez Collection, a designer, marketer and wholesaler of women's contemporary eveningwear and sportswear
• launched an e-commerce site for ShoeWoo, our multi-brand retail shoe concept at www.shoewoo.com; and
• renewed license agreement with Luxottica for Anne Klein New York eyewear.

Cash used by operations during the quarter was $86 million, compared with cash used by operations of $139 million in the prior year. The year-over-year improvement in cash used by operations of $53 million is primarily due to higher operating earnings and slightly lower working capital requirements. The company continues to have no amounts drawn under its $650 million of committed revolving credit facilities.

John T. McClain, Jones Apparel Group chief financial officer, commented: "Our financial position remains strong. We ended the quarter with $222 million of cash, $28 million more than last year, and our revolver continues to be undrawn. Throughout the remainder of 2010, we will maintain our management of inventories and expenses to conserve cash and improve margins."

Mr. Card concluded: "On a macroeconomic level, we are encouraged by rising consumer confidence and positive retail trends. While we believe these trends should continue, the economic environment remains unclear and consumer spending is unpredictable. We will continue to position our core brands for growth and fill the white space in our portfolio with selected acquisitions and growth initiatives."

The company's board of directors has declared a regular quarterly cash dividend of $0.05 per share to all common stockholders of record as of May 14, 2010 for payment on May 28, 2010.

The Company will host a conference call with management to discuss these results at 8:30 a.m. eastern time today, which is accessible by dialing 412-858-4600 or through a web cast at www.jonesapparel.com. The call will be recorded and made available through May 7, 2010 and may be accessed by dialing 877-344-7529. Enter account number 439579. A slide presentation will accompany the prepared remarks and has been posted on the investor relations section of the Company's website.