Fashion
J.Crew Has a Sweater Problem
CEO Mickey Drexler admits the company "just made mistakes"
Women's apparel on display in a J.Crew clothing store in Paris on March 4, 2015, ahead of its official opening later in the week.
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
J.Crew is already coming off a “lousy year” in women’s clothing. Now the company is having trouble with an important piece of its business: sweaters.
The privately held apparel company reported weak results on Thursday, with sales at J.Crew's namesake brand sliding 5.2 percent, to $508.7 million, for the quarter. On a conference call with analysts, Chief Executive Officer Mickey Drexler pointed to two categories as the cause of problems for J.Crew's women's line. "The lion's share of our women's issue is isolated to knits and sweaters, which has been an outsize portion of our business," he said.