J. Crew Provides Strong Q1 Performance
J. Crew's net income for the first quarter ended April 30 totaled $5 million compared with a net loss of $24 million last year, the New York-based multichannel apparel marketer reported yesterday.J. Crew's consolidated revenue for the quarter jumped 45 percent to $211 million based partly on a comparable-store sales increase of 37 percent. The company said a scarcity of merchandise in last year's first quarter contributed to this year's strong comparable-store performance.
Also, net sales for J. Crew's direct business, which includes Internet and catalog sales, increased 59 percent to $59 million.
