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JONES APPAREL GROUP, INC. REPORTS RECORD SALES AND EARNINGS FOR 1992

 NEW YORK, Feb. 10 /PRNewswire/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced record sales and earnings for the fourth quarter and year ended Dec. 31, 1992.
 For the full year 1992, net income increased by 34 percent to a record $41,303,000, an increase of $10,540,000 from the $30,763,000 reported in 1991. Net income for the fourth quarter increased by 17 percent to $6,383,000, an increase of $933,000 over the $5,450,000 reported for 1991.
 For the full year 1992, fully diluted earnings per share were $1.58, an increase of 26 percent over the $1.25 earned per share in 1991, with 6 percent more shares outstanding in 1992. Fully diluted earnings per share of $.24 for the fourth quarter increased by 14 percent over the prior year's $.21 per share with approximately the same number of shares outstanding in each period.
 For the year 1992, net sales increased by 31 percent to a record level of $436,572,000, up from $334,066,000 reported in 1991. Net sales for the quarter ended Dec. 31, 1992, increased by 22 percent to $92,380,000, up from $75,747,000 reported for the comparable quarter of 1991.
 Sidney Kimmel, chairman, commented, "We are extremely pleased to continue to post record sales and earnings. Our career sportswear sales grew by 28 percent in 1992, led by our flagship label Jones New York, and our Rena Rowan for Saville career sportswear line continued to contribute significantly to our growth in this category. Our casual sportswear, suit and dress category grew by 39 percent for the year, led by Jones New York Sport, our casual knitted sportswear line which continued to increase rapidly. We introduced Jones & Co. in September 1992, a line of casual sportswear, made of washed and relaxed woven items, to complement our Jones New York Sport line. We significantly oversold the first season projection for the Jones & Co. product and commenced shipping in January 1993."
 Kimmel continued, "While overall retail sales increases were very strong in the fourth quarter of 1992, in our category, these sales increases were generated primarily through high levels of promotional activity. While the heavier than normal promotions impacted negatively on our gross profit margin, we were able to offset some of this decline through operating expense leverage. Selling, general and administrative costs were 19.1 percent of sales, the lowest in our company's history. We are also very pleased that our return on sales improved to 9.5 percent for the year."
 Kimmel further commented, "Our balance sheet remains healthy and we ended the year with $33.0 million in cash and short-term investments, with no outstanding short-term borrowings. Working capital was $122.4 million at year-end and we now have a stockholders' equity base of $134.8 million. We continued our sales momentum as we entered 1993, with a strong increase in spring and summer orders and with a substantial increase in order backlog at year-end. We are hopeful that 1993 will prove to be a less promotional year at the retail level, as retailers enter the year with lighter inventories."
 Jones Apparel Group is a leader in the better women's sportswear, dress and suit business and sells under its flagship label Jones New York, as well as its Jones New York Sport, Jones & Co., Jones(asterisk)Wear, Saville, Rena Rowan for Saville, and Ellen Kaye labels and under the licensed name Christian Dior.
 JONES APPAREL GROUP, INC.
 (In thousands, except per-share data)
 Quarter ended Dec. 31 1992 1991
 (Unaudited)
 Net sales $92,380 $75,747
 Income from operations 9,394 9,200
 Interest expense, net 44 173
 Income before taxes 9,350 9,027
 Provision for taxes 2,967 3,577
 Net income 6,383 5,450
 Fully diluted earnings
 per share $.24 $.21
 Weighted average common
 shares and share
 equivalents outstanding 26,325 26,446
 Year ended Dec. 31 1992 1991
 Net sales $436,572 $334,066
 Income from operations (A) 67,552 53,554
 Interest expense, net 935 2,706
 Income before taxes 66,617 50,848
 Provision for taxes (B) 25,314 20,085
 Net income 41,303 30,763
 Fully diluted earnings
 per share $1.58 $1.25
 Weighted average common
 shares and share
 equivalents outstanding 26,190 24,682
 (A) Includes pro forma adjustment for 1991 to eliminate compensation paid in excess of $1,250 annually received by chairman prior to June 1, 1991.
 (B) Includes pro forma taxes on income for results presented through May 15, 1991, as if the company had not been an S Corporation through that date.
 /delval/
 -0- 2/10/93
 /CONTACT: Wesley R. Card, chief financial officer of Jones Apparel Group, 215-785-4000/
 (JNY)


CO: Jones Apparel Group, Inc. ST: Pennsylvania IN: TEX SU: ERN

MP-MK -- PH005 -- 5066 02/10/93 10:25 EST
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Date:Feb 10, 1993
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