By  on March 20, 2019

Misguided strategies of the past year leading to inventory write-downs dragged the J. Crew Group to a net loss of $74.4 million in the fourth quarter, compared with net income of $34.7 million in the year-ago fourth quarter.

“The J.Crew brand delivered disappointing results in 2018 as many new strategies we deployed were ultimately not successful and negatively impacted our financial performance, while Madewell generated another year of record results, accelerating its path to becoming a $1 billion global brand,” said Michael J. Nicholson, president and chief operating officer.

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