J.Crew Group, Inc.  Announced financial results for the three months and the fiscal year ended February 2, 2013.

 

J.Crew Group, Inc. Announced financial results for the three months and the fiscal year ended February 2, 2013.On March 7, 2011, J.Crew was #

On March 7, 2011, J.Crew was acquired by investment funds affiliated with TPG Capital, L.P. and Leonard Green & Partners, L.P.  Although the Company continued as the same legal entity after the acquisition, last year's financial statements were prepared for the following periods: (i) March 8, 2011 to January 28, 2012 (Successor) and (ii) January 30, 2011 to March 7, 2011 (Predecessor).  

 

J.Crew Group, Inc. Announced financial results for the three months and the fiscal year ended February 2, 2013.On March 7, 2011, J.Crew was #

To facilitate a meaningful comparison of our results, we have presented a pro forma statement of operations for fiscal 2011, which reflects the combination of the Successor and Predecessor periods, giving effect to the acquisition and related transactions as if they occurred on the first day of the fiscal year.  The results for the fourth quarter of fiscal 2011 have not been prepared on a pro forma basis, as the transaction was effective prior to the first day of the quarter.

 

J.Crew Group, Inc. Announced financial results for the three months and the fiscal year ended February 2, 2013.On March 7, 2011, J.Crew was #

Our fiscal year ends on the Saturday closest to January 31, typically resulting in a 52-week year.  The results of the fourth quarter and fiscal 2012, however, contain an additional week, and reflect the 14 and 53 week periods ended February 2, 2013.  Sales generated in the 53rd week are not included in comparable company sales.    

 

J.Crew Group, Inc. Announced financial results for the three months and the fiscal year ended February 2, 2013.On March 7, 2011, J.Crew was #

Fourth Quarter highlights:

-Revenues increased 21% to $642.9 million (which includes $21 million generated in the 14th week), with comparable company sales increasing 11%.  Comparable company sales increased 6% in the fourth quarter last year.  Store sales increased 18% to $416.9 million.  Store sales increased 16% in the fourth quarter last year.  Direct sales increased 27% to $217.3 million following an increase of 10% in the fourth quarter last year.  

-Gross margin increased to 38.4% from 37.8% in the fourth quarter last year.  Last year included amortization of inventory step-up from purchase accounting of $1.7 million.      

-Selling, general and administrative expenses increased to $205.7 million, or 32.0% of revenues, from $159.1 million, or 30.0% of revenues, in the fourth quarter last year.  This year reflects additional share-based and incentive compensation of $9.3 million.  Last year included transaction-related net insurance recoveries of $9.8 million.                   

 

J.Crew Group, Inc. Announced financial results for the three months and the fiscal year ended February 2, 2013.On March 7, 2011, J.Crew was #