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Large impairment charge propels Q1FY16 net loss at J Crew
08 Jun '15
4 min read
Operating loss climbed higher at $520.6 million from $34.0 million in the quarter from a fiscal ago, primarily from the pre-tax non-cash impairment charges.
Cash and cash equivalents were $64.5 million compared to $59.4 million at the end of the first quarter of last fiscal.
Total debt, net of discount was $1,545 million as against $1,559 million at the end of the first quarter of fiscal 2015.
Inventories in the first quarter of fiscal 2016 climbed higher at $410.1 million from $395.7 million from the first fiscal of 2015.
J Crew Group is an international omni-channel retailer of women's, men's and children's apparel, shoes and accessories.
As of June 4, 2015, the apparel marketer operated 283 J Crew retail stores, 88 Madewell stores, jcrew.com, jcrewfactory.com, the J Crew catalog, madewell.com, the Madewell catalog and 143 factory stores. (AR)
Fibre2fashion News Desk - India
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