J. Crew Direct Sales Increase 35%

New York-based cataloger/retailer J. Crew Group reported a 150% leap in second-quarter operating income, to $20 million for the 13 weeks ended July 30. Direct sales increased 35%, to $58 million from $43 million last year.

Consolidated revenue increased 22%, to $229 million, with store sales up 17%, to $163 million. Comparable store sales increased 15%.

Gross margin increased to 42% of revenue in the second quarter, compared with 39% a year ago, primarily due to lower markdowns in all of its sales channels.

Perhaps best of all, J. Crew ended the quarter in the black. The apparel merchant, which recently filed for an initial public offering, reported net income of $2 million, compared with a net loss of $14 million last year.

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.