Sales decline and wider loss for J.Crew in the second quarter

The preppy fashion brand reported Wednesday a tough second quarter defined by a total revenue fall of 2 percent to 560.9 million dollars.

For the quarter ended July 29, sales at stores open at least a year declined 5 percent, with total revenues decreasing 2percent to 560.9 milliondollars. The namesake brand’s sales fell 7 percent to 443.1 million dollars.

Meanwhile, the company’s debt remains a concern, as the fashion retailer had long-term debt of 1.72 billion dollars at the end of the quarter.

Adjusted earnings before interest, taxes, depreciation and amortization climbed 65 percent to 63.1 million dollars from 38.3 million dollars in the same quarter a year earlier, helped by a decline in the company’s costs of goods sold.

On a more positive note, sales at J. Crew’s smallest brand, Madewell brand, increased 19 percent to 93.1 million dollars.