• Swung to a Q2 loss of $10.5m from a profit of $34.9m
  • Revenues rose 7% to $435.0m
  • Comparable sales increased 3%

Costs incurred as part of the company's acquisition by private equity firms earlier this year have pushed US apparel chain J Crew to a second-quarter loss.

The company was taken private in March by TPG Capital and Leonard Green & Partners in a deal worth US$3bn.

J Crew said yesterday (1 September) that revenues increased 7% to US$435m for the quarter ended 30 July, while comparable sales increased 12% over the period. Store sales increased 5% to $311m, while comparable store sales were up 1%. Direct sales grew 16% to $102.5m.

Operating income fell to $12.3m over the period against $59m in the second-quarter of 2010. The second-quarter results included some $37m in costs related to the acquisition and related accounting.

J Crew opened its first Canadian store, and begun shipping to the UK last month.