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

Apparel/Garments | On 2nd May 2016

WB: B’desh can create more jobs with apparel exports

Clothing exports could create more and better jobs in Bangladesh if...

Courtesy: Skechers USA Inc

Apparel/Garments | On 2nd May 2016

Govt okays single brand retail for Skechers

Footwear maker Skechers USA Inc. has secured the government's...

Apparel/Garments | On 2nd May 2016

Amazon to invest more in India

Global e-commerce major Amazon plans to boost investment in its...

Interviews View All

DK Nair
Confederation of Indian Textile Industry (CITI)

How do you see the ongoing changes and developments in the textile and...

Mr. H S Singha
ABH Biochem Pvt. Ltd.

What is the importance of textile chemicals in the textile industry?...

Mohit Shah
International Cotton Association

What is ICA's definition of 'safe trading environment'? How can the...

Mr. Yogesh Agrawal
Shri Ambica Polymer Pvt. Ltd.

Mr. Yogesh Agrawal started Shri Ambica Polymer Pvt. Ltd. in the year 2005. ...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Susan Stansbury
Converting Influence LLC

Susan Stansbury is the director of Converting Influence LLC. Converting...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

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

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search