J.Crew plans 46 store openings for 2013, including first London store

By

Florent Gilles

Published
Mar 27, 2013

Following the company’s annual report, the J. Crew group has mapped out an expansion plan which includes 46 store openings for 2013. Amongst the openings are 16 J. Crew stores, including a store on London’s popular Regent Street, due to open towards the end of the year.

Other European and Asian stores should see the light of day from 2014. J.Crew began life as a small mail-order company and the brand still does some of its business via mail-order as well on its international e-store. The group is also planning to open 17 new Madewell stores, another brand which also made the transition from mail-order to brick & mortar.

J.Crew racked up over 2 billion dollars in sales for the first time in 2012, reporting an end-of-year sales figure of 2.23 billion dollars, up 3% from 2011. Gross margins increased this year, rising from 41.7% to 44.3%.

The group owns 240 J.Crew stores, 8 Crewcut (for children) store, 48 Madewell stores and 106 outlet stores. Canada is currently the only country outside of the United States to have J.Crew store.