J.Crew surpassed 2.5 billion dollars in revenue in 2014
Having entered the European market through the UK in 2013, J.Crew has just opened its first boutique in Paris in the Marais neighborhood. For its 2014-15 financial year, the company also opened more stores internationally (6) than in its home market (5).
The brand saw some difficulties in its latest fiscal year, which ended on January 31. Although its turnover increased by 4% to 2.295 billion US dollars, on a comparable basis it declined by 2%.
The J.Crew group recorded a 6% increase in sales at 2.58 billion dollars, while the group’s other retailer, Madewell, generated 245 million dollars in sales.
The group’s online sales, meanwhile, grew by 9% to 826 million dollars, having surged by 16% one year earlier. Overall, the group saw its gross margin go from 41.4% to 37.6%.
For the period, the group suffered an operating loss of 585 million dollars after a depreciation of 710 million of some of its assets.
It also refinanced its debt, thus ending the year with a net loss of nearly 658 million dollars. Its Ebitda was 255 million dollars as compared to 370 million one year earlier.
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