NEW YORK — J. Crew has found the location for its first men’s-only store.
It will be located at The Liquor Store, a landmark building at 235 West Broadway at White Street in Tribeca. It will be smaller and more intimate than the company’s other stores, according to a spokesperson, and is slated to open in the early summer.
It will carry “the best-of-the-best” of the J. Crew men’s collection, including Collector’s Items, its upscale, limited-edition items. It will also offer the company’s “list” of the items that every man should own.
Millard Drexler, CEO of J. Crew, mentioned the planned debut of the men’s-only store during the company’s fourth quarter and year-end conference call on Tuesday.
He said the store is “a very short-term lease,” involving “very little investment and risk,” that will allow the company “to fool around and play with a men’s store. It’s going to be small.”
Drexler said the company is continuing to work on finding locations for “one or two” larger freestanding men’s stores, but no leases have been found.
For the fourth quarter, J. Crew reported earnings of $25 million, or 39 cents a share, down from $44 million, or 71 cents a share in the same period last year, when results included a $10.6 million tax gain. Before taxes, J. Crew's income rose 24 percent year over year. The quarter also included 2 cents a share in severance costs.
Sales in the period rose to $399.9 million from $366.7 million last year, when the quarter included an extra week. Comp-store sales were flat, but taking out the extra week, they would have risen 4 percent.
For fiscal 2008, the company is forecasting earnings of $1.85 to $1.87 a share. In fiscal 2007, earnings were $1.54 a share.
The company is also projecting comp-store growth in the mid-single digit range for this year.
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