J. Crew Group took a big bite out of its loss in the first quarter thanks to the strong performance of its Madewell brand. But its namesake banner continues to struggle.
The retailer reported a net loss of $33.9 million for the quarter ended May 5, compared to a loss of $121.0 million in the year-ago period.
Total revenues increased 3% to $540.5 million. Madewell sales increased 39% to $115.8 million. J.Crew sales decreased 7% to $391.9 million.. . . more