J.Crew Group, Inc. announced financial results for the three months and the fiscal year ended February 1, 2014.
J.Crew Group, Inc. announced financial results for the three months and the fiscal year ended February 1, 2014.Fourth Quarter highlights:-Revenues #
Fourth Quarter highlights:
-Revenues increased 7% to $686.2 million, with comparable company sales increasing 3%. When realigning last year to be consistent with the current year retail calendar, comparable company sales increased 4% on top of an increase of 11% in the fourth quarter last year. Store sales increased 5% to $438.6 million on top of an increase of 18% in the fourth quarter last year.
-Direct sales increased 10% to $238.1 million following an increase of 27% in the fourth quarter last year.
-Gross margin was 36.8% compared to 38.4% in the fourth quarter last year.
-Selling, general and administrative expenses were $215.0 million, or 31.3% of revenues, compared to $205.7 million, or 32.0% of revenues in the fourth quarter last year. This year reflects a decrease of $8 million in share-based and incentive compensation.
-Operating income was $37.6 million, or 5.5% of revenues, compared to $41.4 million, or 6.4% of revenues, in the fourth quarter last year.
-Net income was $5.9 million compared to $10.2 million in the fourth quarter last year.
-Adjusted EBITDA increased to $75.7 million from $70.4 million in the fourth quarter last year.
J.Crew Group, Inc. announced financial results for the three months and the fiscal year ended February 1, 2014.Fourth Quarter highlights:-Revenues #
Fiscal 2013 highlights:
-Revenues increased 9% to $2,428.3 million, with comparable company sales increasing 3% (which was the same on a realigned basis) on top of an increase of 13% last year. Store sales increased 6% to $1,638.2 million on top of an increase of 21% last year.
-Direct sales increased 16% to $755.9 million following an increase of 19% last year.
-Gross margin was 41.4% compared to 44.3% last year.
-Selling, general and administrative expenses were $756.2 million, or 31.1% of revenues, compared to $733.1 million, or 32.9% of revenues, last year. This year reflects a decrease of $31 million in share-based and incentive compensation.
-Operating income was $249.9 million, or 10.3% of revenues, compared to $253.7 million, or 11.4% of revenues, last year.
-Net income was $88.1 million compared to $96.1 million last year.
-Adjusted EBITDA increased to $370.2 million from $359.6 million last year.
J.Crew Group, Inc. announced financial results for the three months and the fiscal year ended February 1, 2014.Fourth Quarter highlights:-Revenues #
J.Crew Group, Inc. announced financial results for the three months and the fiscal year ended February 1, 2014.Fourth Quarter highlights:-Revenues #
J.Crew Group