Sales Jump for J. Crew

Apparel cataloger/retailer J. Crew had plenty of good news to report from its first quarter ended May 3. The New York-based company’s revenue for the quarter rose 15%, to $340.6 million, from $297.3 million in the same period last year. Internet and catalog sales jumped 17%, to nearly $101 million, up from $86.6 million.

J. Crew’s store sales (retail and factory) increased 14%, to $229.1 million, from $201.0 million. Same-store sales rose 8% and net income increased 24%, to $30.5 million, up from $24.6 million in the first quarter of 2007.

CEO Millard Drexler was pleased with the company’s first-quarter performance. “We are on a mission to be the best we can be on quality, style, design and service for our customers,” he said in a release. “We are dedicated to continuing to always build and invest in our company for the long term.”