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JONES APPAREL GROUP, INC. REPORTS RECORD THIRD QUARTER SALES AND EARNINGS

 NEW YORK, Oct. 26 /PRNewswire/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced record sales and earnings for the third quarter and nine months ended Oct. 3, 1993.
 Net income for the third quarter increased by 13 percent to $19,627,000, an increase of $2,223,000 over the $17,404,000 reported in the third quarter of 1992. Third quarter results contained an additional income tax provision of $275,000 resulting from a higher income tax rate for the first nine months of 1993, which reduced earnings by $.01 per share. For the nine month period, net income increased by 21 percent to $42,354,000, an increase of $7,434,000 from the $34,920,000 reported in the first nine months of 1992. Net income in 1993 includes a credit of $1,376,000 relating to the cumulative effect of a change in the method of accounting for income taxes required by SFAS 109.
 Earnings of $.75 per share for the third quarter, based upon approximately the same number of shares, increased by 12 percent over the prior year's $.67 per share. For the nine months, earnings per share were $1.62, an increase of 21 percent over the $1.34 earned per share in the comparable period of 1992, based upon approximately the same number of shares outstanding in both periods. Earnings per share in 1993 includes a credit of $.05 per share relating to the cumulative effect of a change in the method of accounting for income taxes required by SFAS 109.
 Net sales for the quarter ended Oct. 3, 1993, increased by 19 percent to $165,707,000, compared to the $138,702,000 reported for the third quarter of 1992. For the nine month period, net sales increased by 26 percent to $432,417,000, compared to the $344,191,000 reported in 1992.
 Sidney Kimmel, chairman, commented, "We are proud to have once again achieved record results in contrast to overall industry trends. Our career sportswear category continues to increase with shipments of our Rena Rowan for Saville upper moderate career sportswear line registering rapid growth. Sales of our casual sportswear, suit and dress categories were particularly strong, reflecting the continued increased penetration of Jones New York Sport and Jones & Co. Shipments of Jones New York dresses continued to build rapidly, reaching $18.5 million in net sales for the nine months, and the retail performance of our dresses has been excellent."
 Kimmel also stated, "We are continuing to pursue our growth strategy of market share expansion, in spite of the difficult environment, as well as selective acquisition of new businesses or brand names. In this connection, as previously announced, we are launching Rena Rowan for Saville Sport for spring 1994 shipping, a casual line of clothing to complement our Rena Rowan for Saville and Saville Suit product presentations. We have also commenced design of a line of dresses to be sold under the Rena Rowan for Saville Dress label for fall 1994 shipping. We previously announced the signing of an agreement to purchase the Evan Picone trademark from Crystal Brands, Inc., which, subject to the obtaining of various third party consents, should close in early November. This acquisition, if consummated, will add a valuable brand name to our existing product base and will increase our market share in the better-priced department store business. We continue to study further acquisitions to make the best use of our growing cash balance and continue to build our company."
 Finally, Kimmel stated, "Jones Apparel Group, Inc. has the people, products and financial strength to continue its emergence as an industry leader. We ended the nine month period with $20 million in cash on our balance sheet and no short-term debt, and are therefore well positioned to capitalize on our momentum and continue our steady growth."
 Jones Apparel Group, Inc. is a leader in the better women's sportswear and suit businesses and sells under its flagship label Jones New York, as well as its Jones New York Sport, Jones New York Dress, Jones & Co, Jones(asterisk)Wear, Rena Rowan for Saville, Rena Rowan for Saville Sport, Saville and Ellen Kaye labels, and under the licensed names Christian Dior.
 JONES APPAREL GROUP, INC.
 FINANCIAL HIGHLIGHTS
 (Unaudited; in thousands, except per-share data)
 Three months ended Oct. 3, 1993 Oct. 4, 1992
 Net sales $165,707 $138,702
 Income from operations 32,243 28,345
 Net interest income (expense) 61 (273)
 Income before taxes 32,304 28,072
 Provision for taxes 12,677 10,668
 Net income 19,627 17,404
 Fully diluted earnings
 per share $.75 $.67
 Weighted average common
 shares and share
 equivalents outstanding 26,305 26,159
 Nine months ended Oct. 3, 1993 Oct. 4, 1992
 Net sales $432,417 $344,191
 Income from operations 66,819 58,157
 Net interest income (expense) 139 (890)
 Income before taxes 66,958 57,267
 Provision for taxes 25,980 22,347
 Net income before cumulative
 effect of change in accounting
 principle 40,978 34,920
 Cumulative effect on prior
 years of change in accounting
 for income taxes 1,376 ---
 Net income 42,354 34,920
 Fully diluted earnings
 per share:
 Net income before cumulative
 effect of change in accounting
 principle $1.57 $1.34
 Cumulative effect on prior years
 of change in accounting for
 income taxes .05 ---
 Net income per share 1.62 1.34
 Weighted average common
 shares and share
 equivalents outstanding 26,127 26,101
 /delval/
 -0- 10/26/93
 /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

LJ-JM -- PH001 -- 6646 10/26/93 06:29 EDT
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Date:Oct 26, 1993
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