J. Crew's Direct Sales Jumped 28 Percent Last Year
J. Crew Group Inc. said yesterday that consolidated revenues for the fourth quarter ended Jan. 28 increased 10 percent for a total of $290 million. Same-store sales rose 8 percent during the same period while direct sales increased 11 percent for a total of $80 million.
The New York-based multichannel apparel marketer's operating income decreased in the fourth quarter by $5 million for a total of $15 million. The net loss for the period was $6 million compared to last year's $52 million.
Consolidated revenues for the year ended Jan. 28 increased 19 percent for a total of $953 million. Same-store sales rose 13 percent for the year. Direct sales jumped 28 percent for a total of $254 million.
Operating income for the year increased by $42 million or 105 percent for a total of $80 million. Net income for the year was $4 million compared to a net loss of $100 million last year.