NEW YORK — J. Crew Group Inc. combatted slow traffic in the second quarter with vigorous promotions, and its profits fell in the process.
For the three months ended Aug. 3, the New York-based operator of J. Crew and Madewell stores registered net income of $17.5 million, down 20.7 percent from $22 million in the year-ago quarter. Excluding interest, taxes, depreciation, amortization and a series of items related to its capital structure, adjusted EBITDA contracted 6.4 percent to $83 million.
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)