NEW YORK — Can Millard "Mickey" Drexler stop the bleeding at J. Crew Group?

Drexler, named chairman and chief executive of J. Crew in January after finishing his glorious tenure at Gap Inc. on an inauspicious note will have his work cut out for him, as demonstrated Thursday when his new employer reported a severance-fattened loss of $11.7 million for the fourth quarter.

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