By and  on May 29, 2009

J. Crew Group Inc.’s profits slipped in the first quarter but not management’s confidence in the strategy.

“We think we are in the right place,” Millard “Mickey” Drexler, chairman and chief executive officer, said in a conference call where analysts commended the company for beating expectations. “I don’t think we have a crystal ball but it certainly feels better than it did in the fourth quarter.”

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