Peter Boneparth, President and Chief Executive Officer, Jones Apparel Group, Inc., stated, "PLM is an integral component of the Company's initiative to increase profitability by enhancing operational execution, and the results to date demonstrate significant progress towards achieving our goals. We believe that PLM will help us transform the way we do business, to compete more effectively as a company and to continue to deliver superior product to our customers."
Jones' PLM application is based on UGS's Teamcenter suite of applications. The Teamcenter applications were recently named "Technologies of the Year" by IndustryWeek. At Jones, the PLM application will provide easy access to a single source of data, support corporate libraries, and route and status workflow information on a collaborative basis across the extended enterprise. Suppliers will be able to access and update the appropriate information directly, thereby speeding up the supply chain and improving efficiency by permitting PLM users to focus their efforts on creating and delivering product, not on maintaining data or tracking down information.
Paul Lanham, Chief Technology Officer, Jones Apparel Group, Inc., commented, "PLM is a major initiative for us. The UGS Teamcenter selection is consistent with our strategy of leveraging world-class technologies. UGS is a leading PLM provider, with 90% market share of large installations (over 1,000 seats) and with a clear commitment to the apparel industry. UGS manages the world's largest, fastest and most complex product development to production supply chains. UGS is a strong partner in our efforts, and we appreciate their commitment to always deliver."
Tony Affuso, Chairman, Chief Executive Officer and President of UGS, stated that, "The Jones Apparel Group PLM team has a deep PLM understanding and vision, based on many years of experience. They understand both apparel and PLM best practices. Jones' PLM initiative has consistently performed at a high level. They are clearly focusing on business value and superior execution. UGS is proud to be part of this project and is fully committed to its continuing success."
Jones Apparel Group, Inc. ( http://www.jny.com), a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. We also market directly to consumers through our chain of specialty retail and value-based stores, and operate the Barneys New York chain of luxury stores. Our nationally recognized brands include Jones New York, Evan-Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon, Le Suit and Barneys New York. The Company also markets apparel under the Polo Jeans Company brand licensed from Polo Ralph Lauren Corporation, costume jewelry under the Tommy Hilfiger brand licensed from Tommy Hilfiger Licensing, Inc. and the Givenchy brand licensed from Givenchy Corporation and footwear under the Dockers Women brand licensed from Levi Strauss & Co. Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. We primarily contract for the manufacture of our products through a worldwide network of quality manufacturers. We have capitalized on our nationally known brand names by entering into various licenses for several of our trademarks, including Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select manufacturers of women's and men's products which we do not manufacture. For more than 30 years, we have built a reputation for excellence in product quality and value, and in operational execution.
Certain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding the Company's expected financial position, business and financing plans are forward-looking statements. The words "believes," "expect," "plans," "intends," "anticipates" and similar expressions identify forward-looking statements. Forward-looking statements also include representations of the Company's expectations or beliefs concerning future events that involves risks and uncertainties, including:
-- those associated with the effect of national and regional economic conditions; -- lowered levels of consumer spending resulting from a general economic downturn or lower levels of consumer confidence or generally reduced shopping activity caused by public safety concerns; -- the performance of the Company's products within the prevailing retail environment; -- customer acceptance of both new designs and newly-introduced product lines; -- the Company's reliance on a few department store groups for large portions of the Company's business; -- consolidation of the Company's retail customers; -- financial difficulties encountered by customers; -- the effects of vigorous competition in the markets in which the Company operates; -- the Company's ability to identify acquisition candidates and acquire such businesses on reasonable financial and other terms, in an increasingly competitive environment for such acquisitions; -- the integration of the organizations and operations of any acquired businesses into the Company's existing organization and operations; -- the Company's reliance on independent foreign manufacturers; -- changes in the costs of raw materials, labor and advertising; -- the general inability to obtain higher wholesale prices for the Company's products that the Company has experienced for many years; -- the uncertainties of sourcing associated with the new environment in which quota has been eliminated on apparel products while political pressure is building for the re-imposition of quotas in certain categories; and -- The Company's ability to secure and protect trademarks and other intellectual property rights.
A further description of these risks and uncertainties and other important factors that could cause actual results to differ materially from the Company's expectations can be found in the Company's Annual Report on Form 10- K/A for the fiscal year ended December 31, 2004, including, but not limited to, the Statement Regarding Forward-Looking Disclosure and the information concerning trends and risk factors included in Management's Discussion and Analysis of Financial Condition and Results of Operations therein, and in the Company's other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such expectations may prove to be incorrect. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
CONTACT: Wesley R. Card, Chief Operating and Financial Officer, or Anita
Britt, Executive Vice President Finance, both of Jones Apparel Group,
Web site: http://www.jny.com/