J. Crew Revises Fourth Quarter, Annual Results

Having made the strategic decision to clear inventory at the end of each selling season, apparel cataloger/retailer J. Crew Group has revised its net loss and EBITDA results for the fourth quarter and fiscal year ended Feb 1–and not for the better.

The company increased its fourth-quarter net loss by $9 million, to a loss of $20.7 million for the three months ended Feb. 1. In the fourth quarter of fiscal 2001, J. Crew posted net income of $6.7 million.

For the fiscal year ended Feb. 1, J. Crew’s net loss ballooned to $40.6 million, compared with a net loss of $11 million the previous year.

Under its previous strategy, excess prior season inventories would have been carried over for sale in subsequent seasons. Under its new strategy, J. Crew will accelerate the disposition of these excess inventories through factory stores, Internet promotions, and warehouse sales.

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
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.