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J. Crew Retail & Factory Store sales up in 2007
12 Mar '08
3 min read
• Net income available to common stockholders in the fourth quarter of fiscal 2007 was $25.0 million, or $0.39 per diluted share and includes the impact of the recognition of severance costs of approximately $0.02 per diluted share. The current year period reflects an effective tax rate of 39.8%.
• Net income available to common stockholders in the fourth quarter of fiscal 2006 was $44.0 million, or $0.71 per diluted share, and includes a non-recurring tax benefit of $10.9 million related to the recognition of deferred tax assets that were previously reserved.
• Adjusted net income for the fourth quarter of fiscal 2007 totaled $26.3 million, or $0.41 per diluted share (see Exhibit 3), as compared to adjusted net income of $20.5 million, or $0.33 per diluted share for the fourth quarter of fiscal 2006 (see Exhibit 4).
Millard Drexler, J. Crew's Chairman and CEO stated: "We are very pleased with our fourth quarter and fiscal year results. It's our mission that every single customer who shops with us knows the lengths we are willing to go in order to satisfy them. We couldn't be happier with what our customers are saying about our quality, our design and their experience with us. At the end of the day, when they are happy we see the results."
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• Net income available to common stockholders in the fourth quarter of fiscal 2006 was $44.0 million, or $0.71 per diluted share, and includes a non-recurring tax benefit of $10.9 million related to the recognition of deferred tax assets that were previously reserved.
• Adjusted net income for the fourth quarter of fiscal 2007 totaled $26.3 million, or $0.41 per diluted share (see Exhibit 3), as compared to adjusted net income of $20.5 million, or $0.33 per diluted share for the fourth quarter of fiscal 2006 (see Exhibit 4).
Millard Drexler, J. Crew's Chairman and CEO stated: "We are very pleased with our fourth quarter and fiscal year results. It's our mission that every single customer who shops with us knows the lengths we are willing to go in order to satisfy them. We couldn't be happier with what our customers are saying about our quality, our design and their experience with us. At the end of the day, when they are happy we see the results."
Click here to view more:
J. Crew Group Inc
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