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.

For the twenty-six week period ended August 4, 2001, revenues declined slightly to $335.7m versus $337.0m. Retail store sales reached $176.0m compared to $165.9m , an increase of 6.1 per cent. Comparable store sales declined 11.6 per cent in the twenty-six week period. Net sales in J Crew's Direct business were $100.9m compared to $110.9m in the prior year period. Earnings before interest, taxes, depreciation and amortization were $2.6m compared to $11.7m in the first half of 2000.


To view related research reports, please follow the links below:-

Menswear Retailers 2001

The 2000-2005 World Outlook for Clothing