US: J Crew sales climb as it seeks refinancing
J Crew has said it is seeking refinancing
US apparel and accessories retailer J Crew has recorded an increase in fourth-quarter revenues and revealed it is seeking a loan to refinance debt.
For the three months ended 1 February, sales were up 7% to US$686m, while comparable store sales increased 4%. This compared to an increase of 11% last year.
Adjusted EBITDA is estimated in the range of $74m to $76m versus $70m in the prior year period.
In addition, J Crew, owned by TPG Capital and Leonard Green & Partners LP, said it is seeking refinancing, understood to be around $1.57bn, according to Bloomberg.
The company plans to use part of the proceeds from the refinancing to redeem its 8.125 percent senior unsecured notes due 2019.
In its trading update, J Crew said it had not yet received a commitment from lenders in connection with the potential refinancing.
This report analyses some of the latest developments and innovations in the global apparel industry, including: e-commerce technology; jeanswear; mood enhancing apparel; new materials for apparel; sma...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate so...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate ...
TechNavio's analysts forecast the Global Children's Wear market to grow at a CAGR of 5.36 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing...
Abstract About Children’s and Infant Wear Children's wear refers to clothing for children aged between 0 months to 10 years. It includes apparel such as outerwear, underwear, nightwear, socks and t...
Value and individualism were top priorities for apparel consumers in 2013 and they proved this with their spending habits. Consumers flocked to retailers like Ross Stores and TJX where they are able ...
- DENIM DAYS: Jeans innovation bursting at the seams
- Apparel buyers point to potential in Africa
- Rana Plaza two years on: Challenges and concerns
- China undisputed giant of garment exports
- Australian brands lack supply chain visibility
- Gap’s woes “not so easy to fix”
- Myanmar garment workers strike deal
- Nepal earthquake prompts Bangladesh factory checks
- Authentic Brands acquires Jones New York
- Quiksilver shareholder calls for sale