NEW YORK — J. Crew Group Inc. reported that net income for the fourth quarter ended Jan. 28 increased more than threefold to $15.1 million from $4 million in the year-ago period.
The net was pushed down in the year-earlier period due to purchase accounting and costs associated with the $3.1 billion acquisition of the firm by TPG Capital and Leonard Green & Partners in March 2011, taking the company private. Total acquisition costs were $65 million, including $20 million that was recorded in the fourth quarter of 2010.
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)