J. Crew’s Third Quarter Gain Fueled By All Channels
Both direct and in-store sales posted gains for apparel retailer J. Crew. Direct sales rose from $56.4 million during third-quarter 2005 to $66.3 million during the quarter just ended. In-store sales were up from $160.8 million, ending the most recent quarter at $202.2 million. The quarter ended Oct. 28.
The company also turned around a loss of $336,000 a year ago, and generated net income of $26 million, primarily by containing selling, general and administrative expenses as sales increased.
For the nine months ended Oct. 28, direct sales rose from $174.5 million to $195.4 million, while in-store revenue jumped from $468.7 million to $566.7 million. The New York-based company reported net income of $33.8 million, up from net income fo $9.7 million for the first nine months of 2005.
