Financial Reports: J. Crew, Design Within Reach

A Good Quarter, Year for J. Crew
New York-based apparel cataloger/retailer J. Crew had plenty of good news to report from its fourth-quarter and fiscal 2007 financials. Revenue for the fourth-quarter rose 90%, to nearly $400 million, up from $366.7 million.

The merchant’s net income, however, slipped to $25 million, down from $44 million. Direct sales increased 10.1%, to $126 million, from $113.2 million. The fourth quarter and fiscal year contained a 14th and 53rd week, respectively. Both ended Feb. 2.

For fiscal 2007, J. Crew’s J. Crew sales jumped 15.6%, to $1.33 billion, from $1.15 billion in fiscal 2006. Net income increased nearly 25%, to $97.1 million, up from $77.8 million. Direct sales for fiscal 2007 rose 22.2%, to $377.4 million, from $308.6 million in fiscal 2006.

Net Income Up at Design With Reach
Fourth-quarter direct sales for San Francisco-based furniture cataloger/retailer Design Within Reach decreased nearly 6%, to $12.7 million, compared to $13.5 million in the fourth quarter last year. For fiscal year 2007, direct sales slipped 2.4%, to $48.2 million, from $49.4 million for fiscal year 2006.

For the period ended Dec. 29, fourth-quarter sales increased 3.4%, to $52.0 million from $50.3 million. For fiscal 2007, Design Within Reach’s net sales rose nearly 9%, to $193.9 million, from $178.1 million the year before.

Net income for the fourth quarter was $2.3 million, compared to a net loss of $2.0 million in the fourth quarter of 2006. Net income for fiscal year 2007 was approximately $323,000, compared to a net loss of $8.3 million.

Partner Content

The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.