Home / Knowledge / News / Apparel/Garments / J Crew Q3 FY'13 revenues hike 11%
J Crew Q3 FY'13 revenues hike 11%
21
Feb '14
J.Crew Group, Inc. announced financial results for the three and nine months ended November 2, 2013.
 
Third Quarter highlights:
Revenues increased 11% to $618.8 million, with comparable company sales increasing 4%.  When realigning last year to be consistent with the current year retail calendar, comparable company sales increased 5% on top of an increase of 10% in the third quarter last year.  Store sales increased 7% to $420.2 million on top of an increase of 17% in the third quarter last year. Direct sales increased 21% to $189.8 million following an increase of 13% in the third quarter last year.  
 
Gross margin was 43.9% compared to 47.3% in the third quarter last year.        
Selling, general and administrative expenses were flat to last year at $188.6 million, or 30.5% of revenues compared to 33.9% of revenues in the third quarter last year. This year reflects a decrease of $7 million in share-based and incentive compensation.   
                    
Operating income increased to $82.9 million, or 13.4% of revenues, from $74.5 million, or 13.4% of revenues, in the third quarter last year. 
 
Net income increased to $35.4 million from $33.2 million in the third quarter last year. Adjusted EBITDA increased to $110.4 million from $98.9 million in the third quarter last year.  An explanation of the manner in which we use adjusted EBITDA and an associated reconciliation to GAAP measures are included in Exhibit (3).    
 
First Nine Months highlights:
Revenues increased 10% to $1,742.0 million, with comparable company sales increasing 3% (which was the same on a realigned basis) on top of an increase of 13% in the first nine months last year.  Store sales increased 6% to $1,199.5 million on top of an increase of 22% in the first nine months last year.  Direct sales increased 19% to $517.8 million following an increase of 16% in the first nine months last year.   
 
Gross margin was 43.3% compared to 46.7% in the first nine months last year. Selling, general and administrative expenses were $541.2 million, or 31.1% of revenues, compared to $527.4 million, or 33.3% of revenues, in the first nine months last year.  
 
This year reflects a decrease of $23 million in share-based and incentive compensation.  Operating income was $212.3 million, or 12.2% of revenues, compared to $212.2 million, or 13.4% of revenues, in the first nine months last year. Net income was $82.2 million compared to $85.9 million in the first nine months last year.    
 
Adjusted EBITDA increased to $294.4 million from $289.2 million in the first nine months last year.  
 
 

J.Crew Group

Must ReadView All

Courtesy: PIB

Textiles | On 30th Jun 2016

Govt to extend MUDRA loans to 5 lakh weavers in 3 years

The ministry of textiles has set a target of extending loans under...

Texprocil chairman RK Dalmia

Textiles | On 30th Jun 2016

Extend spl package to home textiles: Texprocil to govt

Welcoming the special package for the garment sector recently...

Yin Group chairman Yin Zhiyong

Textiles | On 30th Jun 2016

Changyuan acquires textile machinery maker Yin Science

Changyuan Group (also CYG Group) has announced acquisition of textile ...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Urs Stalder
Sanitized AG

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search