USA: Q2 Revenues Fall At J Crew Group
Second quarter results from J Crew Group Inc were hit by the poor retail climate said the company. Revenues fell to $167.9m from $170.2m last year. Retail store sales rose 4.6 per cent to $91.2m versus $87.2m . Comparable store sales declined 12.1 per cent in the second quarter. Net sales in J Crew's Direct business were $45.2m compared to $50.7m in the prior year period. Earnings before interest, taxes, depreciation and amortisation were $2.4m compared to $6.5m in the second quarter of 2000.
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