As should come as no surprise, J. Crew is raking it in. And so are its top executives. After a somewhat tumultuous year that included a $3 billion buyout, some positive press from Michelle Obama, some not-so-positive press from others (ahem, Fox news), and some great collections, the company has ended up on top.
J. Crew's reported net income for the quarter ending on January 28 was $15.1 million, versus $4 million one year ago, WWD is reporting. Part of the reason for lower reported income in the past year was that the company went private early in 2011 in a buyout that was costly to the company and left them with high interest rates. However, the company looks to be bouncing back from that just fine.
A better indication of how the company is doing at this point might be the adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), which rose from $51.6 million to $59.5 million.
And if you were wondering how much President and executive creative director Jenna Lyons and Chairman and CEO Mickey Drexler took home, the company released that information as well. Drexler's base salary, which has not increased since 2003, is $200,000. Of course, that's in addition to stock options valued at $11.32 million as well as $1.67 million in other compensation and an opportunity for a $1.2 million bonus. Lyons's salary was an even $1 million, in addition to stock options valued at $2 million.
It's a good time for J. Crew, which is solidifying itself as a private company, and things can only go up from here.