J. Crew profit more than triples in Q4; plans 42 stores in 2012
New York City -- J. Crew Group reported Monday that profit for the quarter ended Jan. 28 rose to $15.1 million, from $4 million in the same period last year. Revenues surged 13% to $531 million, and same-store sales rose 6%.
For the full year, the retailer reported a profit decline to $51.5 million, from $121.5 million in 2010. Annual revenues rose 8% to $1.9 billion, and same-store sales increased 7%.
The company said it plans 42 stores in fiscal 2012, comprised of 16 J. Crew retail stores, 10 factory stores, one crewcuts store, and 15 Madewell stores. Slated for closure are one Madewell store and one J. Crew retail store.