Jones Group Q2 Net Income Falls on Acquisition Expense

The Jones Group reported that second-quarter earnings dropped almost 80 percent to $5.2 million, compared with $25.7 million in the year-ago period. The retailer and manufacturer, whose brands include Nine West and Anne Klein, cited expenses related to the acquisition of U.K. luxury footwear retailer Kurt Geiger for the poor earnings performance but results still exceeded Wall Street estimates.