NEW YORK — Reversing a year-ago loss in the second quarter, J.Crew saw the first signs of slow but steady progress since Mickey Drexler’s arrival seven months ago.
For the three months ended Aug. 2, Crew said it made $15.2 million, compared with a loss of $7.1 million in the year-ago quarter. Gross profit declined 19.5 percent to $49.1 million as the firm aggressively reduced inventories, but a $41.1 million pretax gain on the exchange of debt more than erased any red ink.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"