J. Crew Group Inc. said Wednesday that one of its shareholders, Texas Pacific Group, would be offering 7.5 million shares of the retailer’s common stock, and that none of the proceeds from the sale will go to J. Crew.
The stock sale would reduce Texas Pacific Group’s holdings in J. Crew from 36 percent to 24percent.
Separately, the retailer said in a Securities and Exchange Commission filing that revenue for the November-December 2006 period rose 19 percent to $291.1 million.
For complete coverage see tomorrow's issue of WWD.
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?"