Skip to main content

J.Crew Lost Money In The 1st Quarter of 2014

But revenue still grew five percent.

With its increasingly cozy relationship with the high fashion industry, J.Crew may still be on a warpath to global (style) domination, but the retailer is reporting, surprisingly enough, that it lost money in the first quarter of fiscal 2014 — a net loss of $30.1 million, to be exact. That compares to a profit of $29.3 million in the same period last year. 

Comparable sales dropped 2 percent in the quarter, versus a 5 percent increase in 2013. Still, revenue grew 5 percent in the quarter, and the company raked in $592 million. 

So what's going on with that dip in profits, despite revenue still increasing? It could be that the company is investing heavily in operations and international expansion — we'll have more intel on that after the company's earnings call on Thursday morning. 

Scroll to Continue

Recommended Articles