<HTML><HEAD><TITLE>Form 8-K</TITLE>
<BODY>
<P align=center><FONT face="Times New Roman"><FONT size=5>UNITED STATES
SECURITIES AND EXCHANGE COMMISSION</FONT></P><FONT size=4>
<P align=center>Washington, D.C. 20549</P>
<P align=center></FONT><B><FONT size=5>Form 8-K</FONT></P>
<P align=center>CURRENT REPORT<BR>PURSUANT TO SECTION 13 OR 15(d) OF
THE<BR>SECURITIES EXCHANGE ACT OF 1934</P></B>
</FONT>
<P align=center>Date of Report (Date of earliest event reported): <BR>January
29,
2007</P>
<FONT face="Times New Roman">
<P>&nbsp;</P>
<P align=center><FONT size=5>JONES APPAREL GROUP, INC.</FONT></FONT><BR>(Exact Name of
registrant as specified in its charter)</P>
<P>&nbsp;</P>
<DIV align=center>
<CENTER>
<TABLE border=0 cellPadding=0
style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BORDER-RIGHT: medium none; BORDER-TOP: medium none"
width="100%" cellspacing="5">
  <TR>
    <TD vAlign=top width="34%" align="center">
      <P align=center>Pennsylvania
      <hr noshade size="1" color="#000000">
      (State or Other Jurisdiction of
      Incorporation)
    </TD>
    <TD vAlign=top width="30%" align="center">
      <P align=center>1-10746
      <hr noshade size="1" color="#000000">
      (Commission File Number)</TD>
    <TD vAlign=top width="36%" align="center">
      <P align=center>06-0935166
      <hr noshade size="1" color="#000000">
      (IRS Employer Identification
  No.)</TD></TR></TABLE></CENTER></DIV>
<div align="center">
  <center>
  <table border="0" cellpadding="8" cellspacing="5" width="100%">
    <tr>
      <td width="25%" align="center"></td>
      <td width="50%" align="center">1411 Broadway<br>
		New York, New York&nbsp; 10018
        <hr noshade size="1" color="#000000">
        (Address of principal executive offices)</td>
      <td width="25%" align="center"></td>
    </tr>
    <tr>
      <td width="25%" align="center"></td>
      <td width="50%" align="center">(212) 642-3860
        <hr noshade size="1" color="#000000">
        (Registrant's telephone number, including
area code)</td>
      <td width="25%" align="center"></td>
    </tr>
    <tr>
      <td width="25%" align="center"></td>
      <td width="50%" align="center">Not Applicable<hr noshade size="1" color="#000000">
        Former name or former address, if changed since last report</td>
      <td width="25%" align="center"></td>
    </tr>
  </table>
  </center>
</div>
<p>Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:</p>
<p>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)&nbsp;<br>
[&nbsp;&nbsp; ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)&nbsp;<br>
[&nbsp;&nbsp; ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp; ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>
<HR>
<p>Item 2.02. Results of Operations and Financial Condition.&nbsp;</p>
<p>On January 29, 2007, Jones Apparel Group, Inc. (the &quot;Company&quot;)
issued a press release announcing an anticipated charge to be recorded for the
impairment of goodwill and trademarks for the 2006 fourth quarter, as discussed
under Item 2.06 below, an anticipated net loss for the 2006 fourth quarter and
full year and anticipated adjusted earnings per share for the 2006 fourth
quarter and full year. A copy of the press release is attached as Exhibit 99.1
to this report.</p>
<p>This information shall not be deemed &quot;filed&quot; for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the
&quot;Exchange Act&quot;), or incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such a filing.</p>
<p>The press release attached as Exhibit 99.1 contains non-GAAP financial
measures within the meaning of Regulation G promulgated by the Securities and
Exchange Commission. For purposes of Regulation G, a non-GAAP financial measure
is a numerical measure of a company's performance, financial position, or cash
flows that either excludes or includes amounts that are not normally excluded or
included in the most directly comparable measure calculated and presented in
accordance with generally accepted accounting principles. The Company is presenting non-GAAP information regarding the effect on earnings per share
of the strategic review of its infrastructure, the loss on the sale of the Polo
Jeans Company business, gain on sale of stock in an unrelated company, goodwill
and trademark impairment, restructuring costs, the costs associated with the
termination of certain licensing agreements and certain other items.</p>
<p>These non-GAAP measures are provided to enhance the user's overall
understanding of the Company's current financial performance. Specifically, the
Company believes the non-GAAP results provide useful information to both
management and investors by excluding certain expenses that may not be
indicative of the Company's core operating results. In addition, because the
Company has historically reported certain non-GAAP results to investors, the
Company believes the inclusion of non-GAAP numbers provides consistency in its
financial reporting. These measures should be considered in addition to results
prepared in accordance with GAAP, but are not a substitute for or superior to
GAAP results. The non-GAAP measures of adjusted net income and projected
adjusted diluted earnings per share included in the attached press release have
been reconciled to the equivalent GAAP measure.&nbsp;</p>
<p>Item 2.06 Material Impairments.&nbsp;</p>
<p>On January 29, 2007, the Company announced that it had completed its annual
goodwill and trademark impairment analysis for 2006 as required by SFAS No. 142,
&quot;Goodwill and Other Intangible Assets&quot; and that, as a result of the
analysis, it expects to record a charge of approximately $491.4 million
during the fiscal quarter ended December 31, 2006 for the impairment of goodwill
and trademarks, primarily within its wholesale moderate apparel segment.&nbsp;</p>
<p>The Company concluded that the goodwill balance existing in its wholesale
moderate apparel segment was impaired in the amount of approximately $441.2
million as a result of continuing decreases in projected revenues and
profitability for the Norton
McNaughton and l.e.i. product lines, along with changes in business strategy
with respect to the Norton McNaughton brand. It also determined that such decrease in
projected revenues for the Norton McNaughton product line and continuing
decreases in projected revenues for certain other apparel, footwear and costume
jewelry product lines will require it to record a trademark impairment charge of
approximately $50.2 million during the fiscal quarter ended December 31, 2006.
Neither of these impairment charges will result in any future cash expenditures.</p>
<p>Item 9.01 Financial Statements and Exhibits.</p>
<TABLE border=0 cellPadding=0 width="100%" id="table2">

  <TR>
    <TD vAlign=top width="8%"><u>Exhibit No.</u></TD>
    <TD vAlign=top width="92%"><u>Description</u></TD></TR>

  </TABLE>
<TABLE border=0 cellPadding=0 width="100%" id="table1">

  <TR>
    <TD vAlign=top width="8%">99.1</TD>
    <TD vAlign=top width="92%">Press Release of the Registrant dated January 29,
      2007.<BR>&nbsp;&nbsp; </TD></TR></TABLE>
<P align=center>2</P>
<HR>
<P align=center>&nbsp;<B>SIGNATURES</B></P>
<P>Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.</P>
<P align=justify>&nbsp;</P>
<DIV align=center>
<CENTER>
<TABLE border=0 cellPadding=0
style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; BORDER-RIGHT: medium none; BORDER-TOP: medium none"
width="100%">

  <TR>
    <TD width="50%"></TD>
    <TD width="50%">JONES APPAREL GROUP, INC.<BR>(Registrant)
      <P>By:&nbsp;<U>/s/ Efthimios P. Sotos&nbsp;</U><BR>&nbsp;&nbsp;&nbsp;&nbsp;
      Efthimios P. Sotos<BR>&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial
      Officer</P></TD></TR></TABLE></CENTER></DIV>
<P>&nbsp;Date: January 30, 2007</P>
<P align=center>&nbsp;3</P>
<HR>
<P align=left>Exhibit Index</P>
<DIV align=left>
<TABLE border=0 cellPadding=0 width="100%">

  <TR>
    <TD width="12%"><U>Exhibit No.</U></TD>
    <TD width="88%"><U>Description</U></TD></TR>
  <TR>
    <TD vAlign=top width="12%">99.1</TD>
    <TD vAlign=top width="88%">Press Release of
      the Registrant dated January 29, 2007</TD></TR></TABLE></DIV>
<P align=center>4</P></BODY></HTML>
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Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
January
29,
2007
JONES APPAREL GROUP, INC.
(Exact Name of
registrant as specified in its charter)
Pennsylvania
(State or Other Jurisdiction of
      Incorporation)
1-10746
(Commission File Number)
06-0935166
(IRS Employer Identification
  No.)
1411 Broadway
New York, New York  10018
(Address of principal executive offices)
(212) 642-3860
(Registrant's telephone number, including
area code)
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[   ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
On January 29, 2007, Jones Apparel Group, Inc. (the "Company")
issued a press release announcing an anticipated charge to be recorded for the
impairment of goodwill and trademarks for the 2006 fourth quarter, as discussed
under Item 2.06 below, an anticipated net loss for the 2006 fourth quarter and
full year and anticipated adjusted earnings per share for the 2006 fourth
quarter and full year. A copy of the press release is attached as Exhibit 99.1
to this report.
This information shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), or incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except as shall be
expressly set forth by specific reference in such a filing.
The press release attached as Exhibit 99.1 contains non-GAAP financial
measures within the meaning of Regulation G promulgated by the Securities and
Exchange Commission. For purposes of Regulation G, a non-GAAP financial measure
is a numerical measure of a company's performance, financial position, or cash
flows that either excludes or includes amounts that are not normally excluded or
included in the most directly comparable measure calculated and presented in
accordance with generally accepted accounting principles. The Company is presenting non-GAAP information regarding the effect on earnings per share
of the strategic review of its infrastructure, the loss on the sale of the Polo
Jeans Company business, gain on sale of stock in an unrelated company, goodwill
and trademark impairment, restructuring costs, the costs associated with the
termination of certain licensing agreements and certain other items.
These non-GAAP measures are provided to enhance the user's overall
understanding of the Company's current financial performance. Specifically, the
Company believes the non-GAAP results provide useful information to both
management and investors by excluding certain expenses that may not be
indicative of the Company's core operating results. In addition, because the
Company has historically reported certain non-GAAP results to investors, the
Company believes the inclusion of non-GAAP numbers provides consistency in its
financial reporting. These measures should be considered in addition to results
prepared in accordance with GAAP, but are not a substitute for or superior to
GAAP results. The non-GAAP measures of adjusted net income and projected
adjusted diluted earnings per share included in the attached press release have
been reconciled to the equivalent GAAP measure.
Item 2.06 Material Impairments.
On January 29, 2007, the Company announced that it had completed its annual
goodwill and trademark impairment analysis for 2006 as required by SFAS No. 142,
"Goodwill and Other Intangible Assets" and that, as a result of the
analysis, it expects to record a charge of approximately $491.4 million
during the fiscal quarter ended December 31, 2006 for the impairment of goodwill
and trademarks, primarily within its wholesale moderate apparel segment.
The Company concluded that the goodwill balance existing in its wholesale
moderate apparel segment was impaired in the amount of approximately $441.2
million as a result of continuing decreases in projected revenues and
profitability for the Norton
McNaughton and l.e.i. product lines, along with changes in business strategy
with respect to the Norton McNaughton brand. It also determined that such decrease in
projected revenues for the Norton McNaughton product line and continuing
decreases in projected revenues for certain other apparel, footwear and costume
jewelry product lines will require it to record a trademark impairment charge of
approximately $50.2 million during the fiscal quarter ended December 31, 2006.
Neither of these impairment charges will result in any future cash expenditures.
Item 9.01 Financial Statements and Exhibits.
Exhibit No.
Description
99.1
Press Release of the Registrant dated January 29,
      2007.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
JONES APPAREL GROUP, INC.
(Registrant)
By:
/s/ Efthimios P. Sotos
Efthimios P. Sotos
Chief Financial
      Officer
Date: January 30, 2007
3
Exhibit Index
Exhibit No.
Description
99.1
Press Release of
      the Registrant dated January 29, 2007
4