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J. Crew Cruises to Q2 Profit on Strong Sales

The New York-based specialty chain reverses year-ago loss on a 13.2 percent sales gain.

Preppy apparel retailer J. Crew Group Inc. reported a net profit for the second quarter against a loss in last year’s period.

For the three months ended Aug. 4, income applicable to common shareholders rose to $20.6 million, or 32 cents a diluted share, up from a loss of $2.8 million, or 8 cents in last year’s period.

Sales for the quarter increased 13.2 percent to $304.7 million from $269.2 million, while same-store sales rose 16 percent.

As of Aug. 31, the New York-based company operated 189 retail stores, 55 outlets and catalog and e-commerce businesses.