J. Crew Group Inc. reported a net loss of $655,000 for its third quarter, compared to net income of $256,000 last year.
The cataloger and retailer posted revenue of $189.9 million for the period ended Nov.2, down from $195.6 million last year.
Net sales in the New York firm’s direct business decreased 8.7% for the period. Comparable store sales were off 11%.
For the nine months ended Nov. 2, the net loss was $19.9 million compared to a net loss of $17.7 million last year.
Revenue for the nine months was $524.6 million, down from $531.3 million last year.
< Direct sales decreased 2.7% for the period. Comparable store sales were off 11.7% for the period.
“Despite the strengthening of our trend in October, we enter the holiday season with a cautious outlook given the difficult macro environment,” said CEO Ken Pilot, in a statement.
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