Q4, Year-End Results Are Down for J. Crew

Share this content:
Merchandising mistakes were among the factors that led to disappointing results announced yesterday by J. Crew Group Inc.

Revenue during the fourth quarter of fiscal 2001, which ended Feb. 2, totaled $246.7 million, down from $286.7 million for the 2000 fourth quarter. The 2000 fourth quarter included 14 weeks compared to 13 during the 2001 fiscal year.

Comparable store sales dropped 18.7 percent during the fiscal fourth quarter as net sales in J. Crew's direct business fell 12.6 percent during the comparable 13-week period. Earnings before interest, taxes, depreciation and amortization totaled $31.6 million compared to $49.3 million during the fiscal fourth quarter of 2000. Net income amounted to $6.7 million compared to $17.6 million.

Revenue was $778 million for the 52-week period ended Feb. 2, compared to $826 million during the 53-week period ended Feb. 2, 2001. Comparable store sales fell 15.5 percent during the 52-week period as net sales in J. Crew's direct business were down 8.8 percent from the 2000 fiscal year. The net loss for fiscal 2001 was $11 million, compared to net income of $11.9 million a year ago.

"We cut costs, lowered inventories and made changes within our merchandising and design teams," said CEO Mark Sarvary in a statement. "Despite the difficulties, we made important progress operationally, improving our supply chain and enhancing our infrastructure through key systems upgrades."


Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above