J.Crew returns to Q3 comparable sales growth of 8 percent

J.Crew Group, Inc. total revenues increased 10 percent to 622.2 million dollars for the third quarter, while comparable company sales increased 8 percent following a decrease of 9 percent in the third quarter last year. J.Crew sales increased 1 percent to 430.9 million dollars with comparable sales increase of 4 percent following a decrease of 13 percent in the third quarter last year. Madewell sales increased 26 percent to 133.7 million dollars and comparable sales increased 22 percent following an increase of 14 percent in the third quarter last year.

Commenting on the results, Michael J. Nicholson, President and Chief Operating Officer of J.Crew said in a statement: "The third quarter was highlighted by double-digit revenue growth and a solid early response to our relaunch of the J.Crew brand. We enter the fourth quarter with a renewed focus on growing profitability at J.Crew and fuelling continued strong performance at Madewell."

Highlights of J.Crew’s Q3 and nine month results

Gross margin for the third quarter decreased to 38.3 percent from 40.4 percent in the third quarter last year. Net loss was 5.7 million dollars compared to 18.4 million dollars in the third quarter last year, while adjusted EBITDA was 53.6 million dollars compared to 68.4 million dollars in the third quarter last year.

For the first nine months, total revenues at J.Crew increased 5 percent to 1,750.2 million dollars and comparable company sales increased 5 percent following a decrease of 7 percent in the first nine months last year. J.Crew brand sales decreased 4 percent to 1,251.6 million dollars, while comparable sales remained flat following a decrease of 11 percent in the first nine months last year. Madewell sales increased 31 percent to 371.2 million dollars and brand’s comparable sales increased 27 percent following an increase of 13 percent in the first nine months last year.

Gross margin increased to 38.4 percent from 38.3 percent in the first nine months last year. Net loss was 45.7 million dollars compared to 157.9 million dollars in the first nine months last year and adjusted EBITDA was 144.7 million dollars compared to 162.6 million dollars in the first nine months last year.

Picture:Facebook/J.Crew

 

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