Men's and women's apparel retailer J Crew Group Inc reported level revenues of $54.8 million for the four weeks ended 4 May 2002, compared to $54.5 million in the prior year.

The company said comparable store sales for its retail division decreased 12.8 per cent for the period compared to the same time last year. Net sales for the direct division increased 5.6 per cent.

Revenues for the 13-week period were $167.1 million, against $167.8 million. Comparable store sales for the retail division decreased 13.0 per cent and net sales for the direct division grew by 1 per cent.

The company also announced that it expects to record a charge of approximately $4 million for severance costs in the first quarter of 2002 related to recent headcount reductions.