Skip to main content

J. Crew Group Trims Loss, Sees Madewell as $1 Billion Brand

As it looks to retool some of the strategies implemented by its last chief executive officer, J. Crew Group showed signs of improvement. The group narrowed its loss for the third quarter to $5.7 million from a loss of $18.4 million in the year-ago period. This year’s third quarter reflects the impact of the benefit related to a lease termination payment. Last year’s third quarter reflected the impact of transformation costs and transaction costs. Adjusted earnings before interest, taxes, depreciation and amortization was $53.6 million compared to $68.4 million in the third quarter last year. The company considers adjusted earnings the best barometer of its performance. Total revenues increased 10 percent to $622.2 million. Comparable company sales increased 8 percent. By division, J. Crew sales increased 1 percent to $430.9 million. Comparable sales increased 4 percent. Madewell sales increased 26 percent to $133.7 million. Comparable sales increased 22 percent. Gross margin decreased to 38.3 percent from 40.4 percent in the third quarter last year. Earlier this month, the company dismissed ceo Jim Brett, due to disagreements with the board and shareholders over how he was redirecting the company. Some of the programs he initiated are being discontinued. “Jim and the board did not share the same vision on how best to take J. Crew forward,” said

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/2SipMz6

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Michael Urie Is in His Dreamy Era

“It’s been a dreamy couple of years,” says Michael Urie on a Friday afternoon phone call, just hours before a performance of his latest Broadway show “Once Upon a Mattress” at the Hudson Theatre. These dreamy years have also been busy ones for the star, who rose to fame for his role as Marc St. James on the sitcom “Ugly Betty.” Now, Urie stars in the hit Apple TV dramedy “Shrinking” alongside Harrison Ford and Jason Segel — season two premieres Oct. 16. He has also taken the stage by storm over the past couple of years, starring in Broadway’s revival of “Spamalot” and now the revival of “Once Upon a Mattress,” which also had a stint at New York City Center in the winter. While both shows feature Urie in showstopping musical numbers, he never considered himself to be “very musical.”  Michael Urie in “Once Upon a Mattress.” “Doing a musical at all, it’s still a pinch me thing,” he says. “I fell in love with theater because of musicals…[but singing] didn’t come naturally to me.” ...
Post a Comment
Read more

Prince Harry Returns to London With His Signature Style for the Invictus Games Foundation 10th Anniversary

Prince Harry returned to London on Tuesday and Wednesday for events celebrating the 10th anniversary of The Invictus Games Foundation. The Duke of Sussex is the patron of the Invictus Games, a multisport event for wounded, injured and ill servicemen and women launched in March 2014. On Tuesday, Prince Harry was joined by journalist Louise Minchin, entrepreneur Sir Keith Mills and more for a panel conversation titled “Realizing a Global Community.” For the occasion, the British royal family member kept his business attire approachable, opting for a gray suit and white button-down shirt with the top few buttons undone. Louise Minchin and Prince Harry The Duke of Sussex’s conversation with panelists highlighted the global impact the Invictus Games have had since their inception 10 years ago. Prince Harry was also on hand for another event on Wednesday. Prince Harry The Duke of Sussex attended The Invictus Games Foundation 10th Anniversary Service at St. Paul’s Cathedral on Wednesday, ...
Post a Comment
Read more

Louise Redknapp wows fans with seductive lingerie snap

Louise Redknapp has wowed fans on social media. Credit: Getty The singer and songwriter has left fans gobsmacked with a gorgeous new snap that she posted to her social media. Taking to her Instagram account, Louise shared a striking photo with her nearly 700,000 followers that shows her modelling a set of barely there lingerie. Wearing a nudey peach lacy bra with a see-through mesh pair of matching briefs, the former Eternal singer lay on a hotel-style bed giving a sultry look to the camera. View this post on Instagram Saturday night out… just kidding I’m in my PJs 🤍 A post shared by Louise Redknapp (@louiseredknapp) on Nov 9, 2019 at 11:42am PST With muted smokey eye makeup and a subtle glow on her cheeks, the mum-of-two cut a seductive figure with her sultry getup. Joking in her caption that she was enjoying a night out earlier on in the weekend, the mum-of-two, who used to be married to former England footballer Jamie Redkn...
Post a Comment
Read more