J. Crew loss widens, revenues improve 6 percent in FY14

J. Crew Group for the three months and fiscal year ended January 31, 2015 reported total revenue increase of 3 percent to 705.3 million dollars. For fiscal 2014, total revenues increased 6 percent to 2,579.7 million dollars and comparable company sales decreased 1 percent following an increase of 3 percent last year.

Comparable company sales for the fourth quarter decreased 3 percent following an increase of 3 percent in the fourth quarter last year. Total e-commerce sales increased 4 percent to 247.8 million dollars following an increase of 10 percent in the fourth quarter last year. Total e-commerce sales increased 9 percent for the fiscal year to 826.2 million dollars following an increase of 16 percent last year.

J. Crew sales decreased 0.1 percent and comparable sales decreased 5 percent following an increase of 3 percent in the fourth quarter last year. Madewell sales increased 33 percent and comparable sales increased 14 percent following an increase of 10 percent in the fourth quarter last year. Gross margin was 34.5 percent compared to 36.8 percent. Adjusted EBITDA was 42.1 million dollars compared to 75.7 million dollars in the fourth quarter last year.

For the full year, J. Crew sales increased 4 percent and comparable sales decreased 2 percent following an increase of 3 percent last year. Madewell sales increased 35 percent and comparable sales increased 14 percent following an increase of 9 percent last year. Gross margin was 37.6 percent compared to 41.4 percent last year. Adjusted EBITDA was 255.2 million dollars compared to 370.2 million dollars last year.