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.