Pursuits
J. Crew Sales Tumble as Chain Struggles With Slow Traffic
- Retailer’s same-store sales fall for eighth straight quarter
- Results signal that CEO’s turnaround is slow to materialize
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J. Crew Group Inc.’s sales tumbled last quarter after the preppy-apparel chain struggled to win back customers and pull out of a two-year slump.
Same-store sales -- a closely watched measure -- plunged 8 percent in the second quarter, the New York-based company said in a filing Wednesday. The figure marked the eighth straight quarter of declines and was slightly worse than the 7 percent drop it reported in the previous three months.