Joe's Jeans Inc. (Nasdaq:JOEZ) announced financial results for the third quarter ended August 31, 2011. Third quarter net sales declined 5% to $24.2 million; Overall gross margins were 40%, down from 46% in the prior year comparative period due to an inventory write down; and Operating loss of $2.6 million for the third quarter of fiscal 2011 due to $2.8 million of non-cash charges.

Joe's Jeans Inc. engages in the design, development, and marketing of apparel products worldwide. Its product line comprises women's and men's denim jeans, pants, shirts, sweaters, jackets, and other apparel products under the Joe's brand.

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