Joe's Jeans Inc. (DFBG)

[B7$4]

Feb 09, 2010 06:00 ET
Joe's Jeans Signs Nine Leases at Premium Outlets® -- A Division of Simon Property Group

LOS ANGELES, CA--(Marketwire - February 9, 2010) - 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.