J.Crew Group posts strong third quarter
American retailer J. Crew has posted a third quarter sales increase of 11% to $619 million compared to the same period the previous year. The company’s comparable sales increased by 4% over the three-month period.
The preppy retailer saw gross margins decline by 3.4% to 43.9% though reported a 13.4% increase in operational income to $82.9 million over the period. Net income increased to $35.4 million from $33.2 million in the third quarter last year.
Pursuing its international ambitions, J. Crew Group Inc. – which also owns brand Madewell – recently celebrated the opening of three J. Crew stores in London. In total, the group operates 256 J. Crew retail stores, eight crewcuts stores and 65 Madewell stores.
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