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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
March 24, 2005
JONES APPAREL GROUP, INC.
Pennsylvania (State or Other Jurisdiction of Incorporation) |
1-10746 (Commission File Number) |
06-0935166 (IRS Employer Identification No.) |
250 Rittenhouse Circle Bristol, PA 19007 (Address of principal executive offices) |
||
(215) 785-4000
(Registrant's telephone number, including area code) |
||
Not Applicable
Former name or former address, if changed since last report |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On March 24, 2005, Jones Apparel Group, Inc. issued a press release announcing that the Appellate Division, First Department, of the New York State Supreme Court, has affirmed unanimously the lower court's entry of summary judgment in favor of Jones Apparel Group on the issue of liability in Jones' $550 million breach of contract suit against Polo Ralph Lauren Corporation over the termination of the Lauren by Ralph Lauren license.
A copy of the press release is attached as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. | Description |
99.1 | Press Release of the Registrant dated March 24,
2005. |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
JONES APPAREL GROUP, INC. (Registrant) By: /s/ Wesley R. Card |
Date: March 24, 2005
3
Exhibit Index
Exhibit No. | Description |
99.1 | Press Release of the Registrant dated March 24, 2005. |
4
Exhibit 99.1
For Immediate Release
Jones Apparel Group, Inc.
Contacts: |
Wesley R. Card, Chief Operating and Financial Officer |
APPELLATE COURT AFFIRMS SUMMARY JUDGMENT ON LIABILITY IN FAVOR OF JONES APPAREL GROUP IN $550 MILLION BREACH OF CONTRACT SUIT AGAINST POLO RALPH LAUREN CORPORATION
New York, New York - March 24, 2005 - Jones Apparel Group, Inc. (NYSE: JNY) announced today that the Appellate Division, First Department, of the New York State Supreme Court, has affirmed unanimously the lower court's entry of summary judgment in favor of Jones Apparel Group on the issue of liability in Jones' $550 million breach of contract suit against Polo Ralph Lauren Corporation (PRC) over the termination of the Lauren by Ralph Lauren license. A trial on the assessment of damages against PRC will follow.
Jones Apparel Group, Inc. (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 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 herein are "forward-looking statements'' made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements represent the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including the strength of the economy and the overall level of consumer spending, the performance of the Company's products within the prevailing retail environment, and other factors which are set forth in the Company's 2004 Form 10-K and in all filings with the SEC made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.