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Retailer J Crew sales up 11.3% in two months to Oct 5
28
Oct '13
In connection with the proposed private bond offering by its indirect parent, J. Crew Group, Inc. (the "Company") announced the following information:

Selected Financial Information

Based on the Company's unaudited preliminary interim financial statements for the two months ended October 5, 2013:

- Revenues increased $42.9 million, or 11.3%, to $422.3 million from $379.4 million last year;

- Comparable company sales increased 4.3%; and

- Direct net sales increased 20.7%.

Prospective Financial Information

The Company's third quarter ending November 2, 2013 is not yet complete.  However, the Company has included estimated guidance for certain prospective financial information, which is based on (i) the unaudited preliminary interim results of the first two months of the third quarter and (ii) the Company's estimated results of the last month of the third quarter. 

These estimates, which consist entirely of forward-looking statements, represent management's forecast as of today, and are subject to the completion of the quarter and adjustments resulting from the financial close process. These estimates are not necessarily indicative of operating results for any future quarter or results for the full year, and actual results may differ materially.

The Company's estimates of certain prospective financial information for the third quarter ending November 2, 2013 are as follows:

- Revenues are estimated to increase in the range of high-single to low-double digits from $555.8 million last year;

- Comparable company sales are estimated to increase in the mid-single digits range, after an increase of 10.4% in the third quarter last year;

- Direct net sales are estimated to increase in the high-teens from $156.8 million last year; and

- Adjusted EBITDA is estimated to be up slightly from $98.9 million last year.

In addition, capital expenditures are planned to be approximately $135 to $145 million in fiscal 2013. The Company expects to release the results of its third quarter in early December 2013.

J. Crew Group, Inc. is an internationally recognized multi-channel retailer of women's, men's and children's apparel and accessories.  As of October 5, 2013 the Company operates 313 retail stores (including 245 J.Crew retail stores, eight crewcuts stores and 60 Madewell stores), jcrew.com, jcrewfactory.com, the J.Crew catalog, madewell.com, the Madewell catalog, and 114 factory stores.

J Crew

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