J. Crew Group Inc. blamed its lower second-quarter earnings mostly on unexpected computer-system upgrades, as American Eagle Outfitters Inc. and Chico’s FAS Inc. each turned to a more familiar gripe — the economy and sluggish teen and misses’ consumers — for their own deteriorating bottom lines.
J. Crew’s second-quarter profits dipped 12.2 percent, missing analysts’ earnings estimates as the firm spent to upgrade its systems and weathered the economic headwinds. The retailer also lowered its profit guidance for the year.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"