J.Crew Q3 revenues increase 6 percent

REPORT_ J.Crew Group has said that its revenues increased 6 percent to 655.2 million dollars, with comparable company sales decreasing 2 percent. Comparable company sales increased 4 percent in the third quarter last year. Store sales increased 4 percent to 437.8 million dollars on top of an increase of 7 percent in the third quarter last year. Direct sales increased 10 percent to 207.8 million dollars following an increase of 21 percent in the third quarter last year.

Gross margin was 40.2 percent compared to 43.9 percent in the third quarter last year. Operating loss was 636.3 million dollars compared with operating income of 82.9 million dollars in the third quarter last year. Net loss was 607.8 million dollars compared with net income of 35.4 million dollars in the third quarter last year. Adjusted EBITDA was 80.9 million dollars compared to 110.4 million dollars last year.

For the first nine months, revenues increased 8 percent to 1,874.3 million dollars, with comparable company sales remaining flat. Comparable company sales increased 3 percent in the first nine months last year. Store sales increased 6 percent to 1,267.7 million dollars on top of an increase of 6 percent in the first nine months last year. Direct sales increased 12 percent to 578.4 million dollars following an increase of 19 percent in the first nine months last year.

Gross margin was 38.8 percent compared to 43.3 percent in the first nine months last year. Operating loss was 566.3 million dollars compared with operating income of 212.3 million dollars in the first nine months last year. Net loss was 627.2 million dollars compared with net income of 82.2 million dollars in the first nine months last year. Adjusted EBITDA was 213.1 million dollars compared to 294.4 million dollars in the first nine months last year.