J. Crew posts 3Q loss
Apparel cataloger/retailer J. Crew Group lost $655,000 for the three months ended Nov. 2. For the comparable period of last year, the New York-based company had netted $256,000. Net revenue for the third quarter fell 3%, to $189.9 million from $195.6 million last year. Same store sales fell 11%, while catalog and Internet revenue dropped nearly 9%.
Alloy reports record profit Multititle mailer and marketing company Alloy (Nasdaq: ALOY) reported a 110% surge in third-quarter revenue, to $93.2 million for the three months ended Oct. 31. For the third quarter of last year, revenue totaled $44.5 million. What’s more, the company, whose flagship catalog sells apparel for teen girls, posted net income of $11.6 million for the quarter. Last year it had posted a third-quarter loss of $2.7 million.
Net merchandise revenue, which excludes revenue from sponsorships and marketing services, increased 30%, to $41.3 million. The gain was due to increased catalog circulation to its expanded name database and a full quarter’s worth of revenue from its Dan’s Competition sporting gear catalog, which Alloy acquired during the past year.
Looking ahead, Alloy is projecting fourth-quarter merchandise revenue of $60 million-$62 million and sponsorship and other revenue of $34 million-$36 million. The New York-based company expects earnings in the $15 million-$16 million range.