• Q1 profit fell 4.6% to $29.3m
  • Revenues increased 12% to $564.1m
  • Comparable sales rose 5%

US apparel, footwear and accessories retailer J Crew has seen its first-quarter profit fall 4.6% after increased costs offset higher revenues.

Net income stood at US$29.3m for the three months to 4 May, compared to $30.7m in the same period last year.

Revenues increased 12% to $564.1m from $503.5m the prior year, and comparable sales rose 5%. Store sales were up 7% to $380.2m, while direct sales jumped 23% to $176.2m.

Gross margin fell to 44.7% against 47.6% the prior year.

Selling, general and administrative expenses, however, increased 8.6% to $178.4m against $164.2m the year before.