J. Crew Group Inc. (JCG, Financial) filed Quarterly Report for the period ended 2008-11-01.
J. Crew Group Inc. has a market cap of $776.65 million; its shares were traded at around $12.81 with a P/E ratio of 8.46 and P/S ratio of 0.58.
Direct sales increased $11.5 million, or 12.7%, to $101.8 million in the third quarter of fiscal 2008 from $90.3 million in the third quarter of fiscal 2007. During the second quarter of fiscal 2008 we implemented certain Direct channel systems upgrades which impacted our ability to capture, process and ship customer orders, and transfer product between channels. We made significant progress in stabilizing our Direct channel systems during the third quarter. The number of catalog pages circulated in the third quarter of fiscal 2008 increased 8% from the comparable period last year. This increase was primarily due to a shift in the timing of circulating catalogs at quarter end. We evaluate the efficiency of our circulation strategies on a continuing basis and make adjustments as we deem appropriate. The following table summarizes net sales of the Direct channel:
Gross profit decreased $1.0 million to $150.9 million in the third quarter of fiscal 2008 from $151.9 million in the third quarter of fiscal 2007. This decrease resulted from the following factors:
Net income decreased $7.8 million to $19.0 million in the third quarter of fiscal 2008 from $26.8 million in the third quarter of fiscal 2007. This decrease was due to a $1.0 million decrease in gross profit, and a $14.2 million increase in selling, general and administrative expenses, offset by a $2.5 million decrease in interest expense and a $4.8 million decrease in the provision for income taxes.
Stores sales increased $68.1 million, or 10.4%, to $722.3 million in the first nine months of fiscal 2008 from $654.2 million in the first nine months of fiscal 2007. Comparable store sales decreased $2.6 million, or 0.4%, to $632.2 million in the first nine months of fiscal 2008 from $634.8 million in the comparable period last year. Non-comparable store sales were $90.1 million in the first nine months of fiscal 2008.
Direct sales increased $34.5 million, or 13.7%, to $285.9 million in the first nine months of fiscal 2008 from $251.4 million in the first nine months of fiscal 2007. During the second quarter of fiscal 2008 we implemented certain Direct channel systems upgrades which impacted our ability to capture, process and ship customer orders, and transfer product between channels. We made significant progress in stabilizing our Direct channel systems during the third quarter. The number of catalog pages circulated in the first nine months of fiscal 2008 increased 3% from the comparable period last year. We continue to see a shift of orders placed on the phone to the Internet. We evaluate the efficiency of our circulation strategies on a continuing basis and make adjustments as we deem appropriate. The following table summarizes net sales of the Direct channel:
Read the The complete Report
More on JCG:
Gurus buys and sells of JCG
10-year financial history of JCG.
Insider buys/sells of JCG.
J. Crew Group Inc. has a market cap of $776.65 million; its shares were traded at around $12.81 with a P/E ratio of 8.46 and P/S ratio of 0.58.
Highlight of Business Operations:
Stores sales increased $17.3 million, or 7.4%, to $250.9 million in the third quarter of fiscal 2008 from $233.6 million in the third quarter of fiscal 2007. Comparable store sales decreased $6.5 million, or 2.9%, to $220.5 million in the third quarter of fiscal 2008 from $227.0 million in the comparable period last year. Non-comparable store sales were $30.4 million in the third quarter of fiscal 2008.Direct sales increased $11.5 million, or 12.7%, to $101.8 million in the third quarter of fiscal 2008 from $90.3 million in the third quarter of fiscal 2007. During the second quarter of fiscal 2008 we implemented certain Direct channel systems upgrades which impacted our ability to capture, process and ship customer orders, and transfer product between channels. We made significant progress in stabilizing our Direct channel systems during the third quarter. The number of catalog pages circulated in the third quarter of fiscal 2008 increased 8% from the comparable period last year. This increase was primarily due to a shift in the timing of circulating catalogs at quarter end. We evaluate the efficiency of our circulation strategies on a continuing basis and make adjustments as we deem appropriate. The following table summarizes net sales of the Direct channel:
Gross profit decreased $1.0 million to $150.9 million in the third quarter of fiscal 2008 from $151.9 million in the third quarter of fiscal 2007. This decrease resulted from the following factors:
Net income decreased $7.8 million to $19.0 million in the third quarter of fiscal 2008 from $26.8 million in the third quarter of fiscal 2007. This decrease was due to a $1.0 million decrease in gross profit, and a $14.2 million increase in selling, general and administrative expenses, offset by a $2.5 million decrease in interest expense and a $4.8 million decrease in the provision for income taxes.
Stores sales increased $68.1 million, or 10.4%, to $722.3 million in the first nine months of fiscal 2008 from $654.2 million in the first nine months of fiscal 2007. Comparable store sales decreased $2.6 million, or 0.4%, to $632.2 million in the first nine months of fiscal 2008 from $634.8 million in the comparable period last year. Non-comparable store sales were $90.1 million in the first nine months of fiscal 2008.
Direct sales increased $34.5 million, or 13.7%, to $285.9 million in the first nine months of fiscal 2008 from $251.4 million in the first nine months of fiscal 2007. During the second quarter of fiscal 2008 we implemented certain Direct channel systems upgrades which impacted our ability to capture, process and ship customer orders, and transfer product between channels. We made significant progress in stabilizing our Direct channel systems during the third quarter. The number of catalog pages circulated in the first nine months of fiscal 2008 increased 3% from the comparable period last year. We continue to see a shift of orders placed on the phone to the Internet. We evaluate the efficiency of our circulation strategies on a continuing basis and make adjustments as we deem appropriate. The following table summarizes net sales of the Direct channel:
Read the The complete Report
Gurus who own JCG
JCG is in the portfolios of Ron Baron, John Hussman.More on JCG:
Gurus buys and sells of JCG
10-year financial history of JCG.
Insider buys/sells of JCG.
