J. Crew posts 2% decrease in revenue in Q1

By

Obi Anyanwu

Published
Jun 7, 2015

J. Crew on Thursday announced its financial results for Q1 2015 ending on May 2nd, 2015. The company saw a decrease in revenue, a decrease in comparable store sales for J. Crew and an increase in sales for Madewell.

 
Total revenue for the company decreased 2% to $581.8 million and comparable company sales decreased 8% compared to just 2% in the prior year’s first quarter. J. Crew sales decreased 5% to $508.7 million and comparable store sales decreased 10% compared to 3% in the year prior. Madewell sales increased however to $61.9 million, an increase of 33%. Madewell comparable sales increased 12% following an increase of 13% in the previous year.
 
The company saw a steep net loss of $462.4 million compared to $30.1 million in Q1 2014. This is due in part to the company’s steep operating loss of $520.6 million this quarter.

J. Crew currently operates 283 J. Crew retail stores, 88 Madewell stores, jcrew.com, jcrewfactory.com, the J.Crew catalog, madewell.com, the Madewell catalog, and 143 factory stores.