Why J.Crew Decided to Ditch High Fashion

Mickey Drexler, J.Crew Group's chief executive, keeps bringing up one word: "Heritage."

In fact, he said it eight times on a conference call with analysts on Thursday, promising to guide J.Crew back to its more traditional roots after veering too far into the world of high fashion. "You'll see a calibration of products, not a change in direction," said Drexler, who's been battling to turn around J.Crew's women's business. The company's flagship label is having a rocky year, with comparative sales dipping 13 percent, to $506 million, last quarter.