Thursday, May 30, 2019

Madewell boosts J.Crew Q1 sales

Chain Store Age
Overall J.Crew Group Inc.’s first-quarter revenues received a lift from the Madewell brand, although profits remained in the red.

Breaking down results by brand, the J.Crew brand did not fare as well as the company as a whole. Revenue fell 4% to $376.1 million from $391.9 million. Same-store sales declined 1%, an improvement from the 6% decrease reported in the first quarter of fiscal 2018.

However, performance of the Madewell brand was a bright spot in the first quarter. Madewell’s revenue rose 15% to $132.9 million from $115.8 million. Same-store sales increased 10%, following an increase of 31% in the first quarter of the prior year.. . . more