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: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search