US: J Crew third quarter net income rises 53.7%
- Q3 net income rose 53.7% to $33.2m
- Revenue increased 16% to $55.8m
- Comparable sales rose 10%
US clothing retailer J Crew has recorded a jump in third quarter profit thanks to rising sales and gross margins.
The company saw net income reach US$33.2m over the quarter ended 29 October, rising 53.7% from $21.6m in the same period of the prior year.
Revenue grew 16% to $555.8m, while comparable sales rose 10% over the period. Meanwhile, gross margin increased to 47.3% from 42.1% in the third quarter of last year.
Yesterday, J Crew revealed that its first store outside North America will be located on Regent Street, in London. The 17,000 square foot store is set to open in late 2013.
"London was an easy decision - it's a place where people understand and respect the integrity of great style and great design. We share this appreciation and are excited to introduce J Crew to more customers throughout the UK," said chairman and chief executive Millard Drexler.
Delia's, which sells clothing for teenage girls and young women, has appointed former Gap executive Tracy Gardner to the newly-created role of chief creative officer....
Women's wear retailer Cache has appointed Arnold Cohen to the post of executive vice president and chief marketing officer....
US apparel, footwear and accessories retailer J Crew has promoted James Scully to chief operating officer, and Libby Wadle to the position of president of the J Crew brand....
The online and luxury segments are set to provide a silver lining in what is an otherwise gloomy outlook for Australia's fashion industry, according to research released by IbisWorld. ...
- Li & Fung looks to new frontiers for growth
- Gap impressed with supply chain improvements
- Impact of the TPP on the US textile industry?
- Cambodia's future outsourcing prospects uncertain
- Better Work programme poised to expand
- China minimum wage rises will be tough to handle
- Cambodia garment industry hit with fresh strikes
- Cambodia mass faintings rise to 896 in first-half
- Ralph Lauren unveils high-performance Polo shirt
- Russia threatens ban on western apparel imports
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Turkey
- Opportunities and Applications for Digital Textile Printing
- Colombia - ISA Country Report