J Crew Posts Q4, Annual Results
New York City J. Crew Group reported Tuesday its financial results for the fourth quarter and fiscal year ended Feb. 2, 2008 (fiscal 2007). The company’s fiscal year 2006, consisted of 53 weeks, resulting in a 14-week fiscal fourth quarter last year.
For the three months ended Feb. 2, 2008, revenues increased 9% to $399.9 million. Store sales (retail and factory) increased 8% to $260.6 million, with comparable-store sales remaining flat.
Gross margin increased to 41.3% of revenues from 40.8% in the fourth quarter of fiscal 2006.
For the fiscal year 2007 ended Feb. 2, 2008, revenues increased 16% to $1,334.7 million. Store sales (retail and factory) increased 13% to $914.8 million, with comparable-store sales increasing 6%. Realigning last year’s calendar weeks to be consistent with the current-year retail calendar weeks would result in a comparable-store sales increase of 6% in fiscal 2007.