Joe's Jeans Signs Nine Leases at Premium Outlets(R) -- A Division of Simon Property Group
09 Fevereiro 2010 - 9:00AM
Marketwired
Joe's Jeans Inc. (the "Company") (NASDAQ: JOEZ) announced today
that it has finalized nine leases for outlet stores located at
Premium Outlet Centers® throughout the country. The addition of
these stores will bring the Company's existing store portfolio to
15 stores. The Company anticipates opening 5 of the 9 stores by the
end of the second quarter with the balance opening in the third
quarter.
Marc Crossman, President and CEO, commented, "Pursuing Company
owned outlet stores allows us to control our off-price distribution
in a Joe's branded environment thereby maintaining our brand
identity and integrity. Accordingly, we are pleased to partner with
Premium Outlets®, the outlet division of Simon Property Group
(NYSE: SPG), which owns and operates the most productive outlet
centers in the country." Crossman continued, "It is important to
note that opening outlet stores is just one component of our retail
strategy. In the coming months, we expect to have additional
announcements concerning our full-price retail store openings."
The nine new stores will be opening in Premium Outlet Centers®
in Las Vegas, Nevada; Seattle, Washington; Carlsbad and Cabazon,
California; Wrentham, Massachusetts; Houston, Texas; Leesburg,
Virginia; Dawsonville, Georgia and Cincinnati, Ohio.
About Joe's Jeans Inc.
Joe's Jeans Inc. designs, produces and sells apparel and
apparel-related products to the retail and premium markets under
the Joe's® brand and related trademarks. More information is
available at the company website at www.joesjeans.com.
This release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. The matters discussed in
this document involved estimates, projections, goals, forecasts,
assumptions, risks and uncertainties that could cause actual
results or outcomes to differ materially from those expressed in
the forward-looking statements. All statements in this news release
that are not purely historical facts are forward-looking
statements, including statements containing the words "intend,"
"believe," "estimate," "project," "expect" or similar expressions.
Any forward-looking statement inherently involves risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or
contribute to such differences include, but are not limited to: our
ability to grow and expand the Joe's® brand in the marketplace, our
ability to open retail stores including, but not limited to, stores
in Las Vegas, Nevada, Seattle, Washington, Carlsbad and Cabazon,
California, Wrentham, Massachusetts, Houston, Texas, Leesburg,
Virginia, Dawsonville, Georgia and Cincinnati, Ohio, our ability to
operate our outlet stores profitably, uncertainty regarding the
effect or outcome of the Company's retail strategy for fiscal 2010,
including but not limited to the opening of retail outlet stores;
the uncertainty of securing additional retail locations; unforeseen
costs associated with ramping up the Company's retail
infrastructure; expectations in the retail marketplace for the
Joe's® brand; and other risks. The Company discusses certain of
these factors more fully in its additional filings with the SEC,
including its last annual report on Form 10-K filed with the SEC,
and this release should be read in conjunction with that annual
report on Form 10-K, together with all of the Company's other
filings, including current reports on Form 8-K, made with the SEC
through the date of this release. The Company urges you to consider
all of these risks, uncertainties and other factors carefully in
evaluating the forward-looking statements contained in this
release.
Any forward-looking statement is based on information current as
of the date of this document and speaks only as of the date on
which such statement is made, and the Company undertakes no
obligation to update these statements to reflect events or
circumstances after the date on which such statement is made.
Readers are cautioned not to place undue reliance on
forward-looking statements.
Contact: Joe's Jeans Inc. Hamish Sandhu 323-837-3700
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