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By
Reuters
Published
Jan 8, 2009
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J Crew cuts outlook on weak sales, margins

By
Reuters
Published
Jan 8, 2009

NEW YORK, Jan 8 (Reuters) - Apparel retailer J Crew Group Inc (JCG.N) cut its fourth-quarter and full-year outlook on Thursday, citing lower-than-expected sales and margin trends.


J Crew spring-summer 2009

The company said it now expects to report a net loss of 24 cents to 29 cents per share in the fourth quarter, down from a prior expectation for earnings of 5 cents to 10 cents per share.

J Crew said fourth-quarter same-store sales were down at a mid-teen range.

For the full year, J Crew said it now expects earnings of 77 cents to 82 cents per share, down from its earlier forecast, which called for a range of $1.11 to $1.16 per share. (Reporting by Martinne Geller; Editing by Steve Orlofsky)

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