J. Crew Group Inc. reported Thursday that sales for the fourth quarter were up on both a net and comparable basis.
In a regulatory filing with the Securities and Exchange Commission, the New York-based retailer reported that sales for the three months ended Feb. 1 hit $686 million, 6.7 percent above the $642.9 million reported during the fourth quarter of 2012. Direct sales were up 9.5 percent, to $238 million from $217.3 million, and comparable sales, including stores open at least a year and direct revenues, rose 4 percent.
The results are preliminary and unaudited and didn’t include estimates of net income for the quarter. The company projected that adjusted earnings before interest, taxes, depreciation and amortization would rise between 5.7 and 8.6 percent, to a range of $74 million to $76 million, from $70 million in last year’s quarter.
J. Crew disclosed the figures as it prepared to meet with prospective lenders Friday in connection with refinancing tied to the redemption of $400 million in 8.125 percent senior unsecured notes due in 2019. The filing indicated that it doesn’t yet have commitments from prospective lenders on the refinancing.
The fourth-quarter results would push full-year revenues up 9 percent to $2.43 billion from $2.23 billion in 2012, with direct sales up 16 percent to $756 million and comps up 3 percent. Adjusted EBITDA would end the year between $369 million and $371 million, 2.5 to 3.1 percent higher than in 2012.
The company also said that cash and cash equivalents concluded the year at $157 million, more than twice the $68 million level at the close of 2012. Long-term debt receded to $1.57 billion from $1.58 billion, according to the filing.
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)
Breaking News: @hedislimane joins @celine as its new artistic, creative and image director. One of fashion’s preeminent image-makers and trendsetters, Slimane is to join the LVMH brand on Feb. 1 and unveil his first fashion proposition for men and women next September during Paris Fashion Week. It marks a major homecoming for Slimane, who cemented his reputation – and influenced men’s tailoring for more than a decade – as the designer of Dior Homme between 2000 and 2007. He went on to reinvent and ignite the house of Yves Saint Laurent, which he rechristened Saint Laurent, between 2012 and 2016 – all the while maintaining a close relationship with the Arnault family, which controls LVMH and Dior. Read the full exclusive story on WWD.com. Link in bio. #wwdnews #wwdfashion
“Personally I believe the Eighties have been the richest and more vivacious period for international fashion,” Giorgio Armani said when asked what his favorite decade of fashion is. It was a moment of disruption and experimentation and only thinking back to the first years of that decade is always an emotion for me, for what they have meant to me and my work.” The influence is clear in @giorgioarmani spring 2018 collection, pictured here, which was full of bright colors and unexpected prints. Read more about which decades designers loved most on WWD.com #wwdfashion #wwddecades (📷: @aitorrosasphoto)
For Lady Gaga’s only Italian show on her “Joanne World Tour,” the singer wore a range of @versace_official outfits. The standout piece: this custom-made bodysuit inspired by the brand’s spring 2018 collection. #wwdfashion (RG: @ladygaga)
@_camillaruth_ is expanding on the wellness-craze concept with @westbourne – a new NYC restaurant that’s both a healthy-minded café as well as a business that gives back to the community. Marcus works with the Robin Hood foundation to give back to The Door, a non-profit providing youth development services, and also hires employees through The Door. Read our full interview with Marcus on giving back through food on WWD.com. #wwdeye (📷: @lexieblacklock)