J.Crew announces strong operating income for Q2

13 Sep '05

3 min read

Selling, general and administrative expenses for the twenty-six weeks ended July 30, 2005 increased to $150 million, or 34 percent of revenues, from $130 million, or 39 percent last year.Operating income for the twenty-six week period was $43 million compared to $5 million last year, an improvement of $38 million. Net income for the first half of 2005 was $7 million, compared to a loss of $38 million last year.

Inventory at July 30, 2005 was $111 million, an increase of 18 percent over the prior year,. There were no outstanding borrowings under the Company's working capital facility during the first half of 2004 or 2005.

Recent Development
On August 17, 2005, the Company filed a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock.

Second Quarter Conference Call
The Company will not hold a conference call regarding second quarter results.

Nation's recognized fashion retailer J.Crew Group offers men's and women's apparel, shoes and accessories. It operates 158 retail stores and 43 factory outlet stores. J.Crew started in 1983, with plans to open 2 more by the end of 2005.

J.Crew Group

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