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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)