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J.Crew Quarter Results Clarified

Results were impacted by costs related to the brand's March acquisition by TPG Capital and Leonard Green & Partners and merchandise issues.

J. Crew Group’s first-quarter results were impacted by costs related to its March acquisition by TPG Capital and Leonard Green & Partners as well as merchandise issues. This was unclear in a story on page 2, June 10. In reporting losses for the first quarter, J. Crew cited $32.2 million in transaction expenses, $44.7 million in related share-based compensation, and other related interest expenses and accounting costs.