Skip to main content

Off Madewell’s Momentum, J. Crew Group Narrows Q1 Loss

J. Crew Group, demonstrating some progress in its turnaround efforts, narrowed its net loss in the first quarter to $16.2 million compared to $33.9 million in the first quarter last year. Total revenues in the quarter ended May 4 increased 7 percent to $578.5 million. Comparable company sales increased 1 percent. Total sales at J. Crew brand decreased 4 percent to $376.1 million; comparable sales decreased 1 percent. Madewell sales increased 15 percent to $132.9 million; comparable sales increased 10 percent. Adjusted earnings before interest, taxes, depreciation and amortization increased $11.4 million, or 31 percent, to $48.3 million from $36.9 million in the first quarter last year. “We are encouraged by the meaningful progress we have made in the first quarter, reporting a 31 percent increase in adjusted EBITDA driven by continued momentum at Madewell and the early impact of our swift actions to improve profitability at J. Crew,” said Michael J. Nicholson, interim chief executive officer. “As we look ahead, we are optimistic about our plans to reignite the J. Crew brand with new designs, assortments and brand expressions, and remain steadfast in our commitment toward achieving Madewell’s long-term growth potential as a leading global brand.” Selling, general and administrative expenses were $189.8 million, or 32.8

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://bit.ly/2EFnLsc
Labels:

Comments

Post a Comment

Popular posts from this blog

The 12 Best Floral Delivery Services to Easily Order Christmas Flowers Online

If you purchase an independently reviewed product or service through a link on our website, WWD may receive an affiliate commission. Few gift ideas have stood the test of time quite like a stunning bouquet of flowers filled with a variety of lush, blooming florals along with sprigs of complimentary greenery. Sending an arrangement of flowers is everyone’s favorite go-to gift idea to spread love on Mother’s Day, a birthday, anniversary, to say thanks, or simply show appreciation for someone special in your life. And at this time of year, sending flowers makes for an always-cherished holiday gift as well. Although fresh bouquets won’t last forever, they’re a heartwarming gift. “Flowers are something that makes everyone smile,” says Emily Reifel, director of social events at The Plaza Hotel in New York City. “With flowers, you don’t have to do anything. It’s easy — it comes, it’s beautiful, and the recipient just gets to enjoy the beauty of it. There’s no work on their end at all.” We’ve ...
Post a Comment
Read more

The 12 Best Sunscreens for Acne-prone Skin, According to Dermatologists

If you purchase an independently reviewed product or service through a link on our website, WWD may receive an affiliate commission. If you deal with acne, odds are that you think twice before applying anything new on your skin — forbid the wrong serum, moisturizer, or makeup primer causes a flare up. Sunscreen is a non-negotiable in all skin care routines, and the very best sunscreens for acne-prone skin types will keep your skin calm and covered this season. Regardless of your skin type, tone, or texture, sunscreen is vital for preventing skin cancer, hyperpigmentation, and fine lines and wrinkles. In fact, daily use of a facial sunscreen with a minimum SPF 15 may reduce your risk of developing melanoma, the most serious form of skin cancer, by a whopping 50 percent, according to a 2011 randomized controlled trial published in the Journal of Clinical Oncology. Though most dermatologists agree that SPF 30 is the sweet spot for everyday coverage — particularly in the summer, when t...
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