Home / Knowledge / News / Apparel/Garments / J.Crew Group Q1 FY'13 revenues up 12%
J.Crew Group Q1 FY'13 revenues up 12%
07
Jun '13
J.Crew Group, Inc. announced financial results for the three months ended May 4, 2013.

First Quarter Highlights:

-Revenues increased 12% to $564.1 million, with comparable company sales increasing 5%.  When realigning the weeks of the first quarter last year to be consistent with the current year retail calendar, comparable company sales increased 3% on top of an increase of 16% in the first quarter last year. 

Store sales increased 7% to $380.2 million on top of an increase of 26% in the first quarter last year.  Direct sales increased 23% to $176.2 million on top of an increase of 19% in the first quarter last year. 

- Gross margin decreased to 44.7% from 47.6% in the first quarter last year.       

- Selling, general and administrative expenses were $178.4 million, or 31.6% of revenues, compared to $164.2 million, or 32.6% of revenues, in the first quarter last year.                   

- Operating income was $73.6 million, or 13.1% of revenues, compared to $75.7 million, or 15.0% of revenues, in the first quarter last year.

- Net income was $29.3 million compared to $30.7 million in the first quarter last year.

- Adjusted EBITDA was $101.0 million compared to $101.6 million in the first quarter last year.

Balance Sheet Highlights:  

Cash and cash equivalents decreased to $91.9 million from $216.1 million at the end of the first quarter last year, primarily due to a one-time special dividend of $197.5 million that was paid in the fourth quarter last year.

Total debt was $1,576 million, consisting of the senior secured term loan of $1,176 million, maturing in 2018, and the senior unsecured notes of $400 million, maturing in 2019; compared to $1,591 million at the end of the first quarter last year.

Inventories were $308.3 million compared to $250.6 million at the end of the first quarter last year.  Inventories and inventories per square foot increased 23% and 13%, respectively.

J.Crew Group

Must ReadView All

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: EFI Reggiani

Textiles | On 6th Dec 2016

EFI Reggiani shows inkjet textile solutions at India ITME

EFI Reggiani, a leading technology provider of a full range of...

Textiles | On 6th Dec 2016

Demonetisation may increase formal sector share: Ind-Ra

Demonetisation coupled with the government’s resolve to promote the...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search