• Q4 net loss US$30.6m, versus $5.9m profit
  • Revenues up 3% to $705.3m
  • Bottom line hit by range of charges

Clothing retailer J Crew slid to a fourth quarter and full-year loss, impacted by large-scale charges related to impairment and refinancing.

Revenues were up 3% in the three months to 31 January, but comparable store sales declined 3%, while e-commerce revenues rose 4% to $247.8m.

By brand, J Crew’s revenues edged down 0.1% to $620.7m, with comps down 5%, while Madewell recorded revenues of $73.7m, up 33%, with comps up 14%.

Gross margin was 34.5%, down from 36.8% a year ago, the US company said.

For the full year, revenues rose 6% to $2.579bn, but comps fell 1%.

J Crew incurred a full-year net loss of $657.8m, versus net income of $88.1m, blaming the downturn on non-cash goodwill impairment charges and costs related to refinancing of its loan facility.