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July 01, 2015 7:48 PM ET

Specialty Retail

Company Overview of J. Crew Group, Inc.

Company Overview

J.Crew Group, Inc. operates as a multi-brand apparel and accessories retailer in the United States, Canada, the United Kingdom, and Hong Kong. The company designs, markets, and sells an assortment of women’s and men’s apparel and accessories, including outerwear, suiting, casual attire, wedding and bridesmaids dresses, swimwear, shoes, handbags, belts, socks, jewelry, and others, as well as casual T-shirts, denims, hand-embellished sweaters and coats, Italian cashmere, limited edition prints and patterns, and vintage inspired details under the J.Crew brand name. It also offers a product assortment of apparel and accessories for the children’s market from infant to children’s size 14 under th...

770 Broadway

New York, NY 10003

United States

Founded in 1983

5,700 Employees

Phone:

212-209-2500

Key Executives for J. Crew Group, Inc.

Chairman of the Board and Chief Executive Officer
Age: 70
President and Executive Creative Director
Age: 47
Interim Chief Financial Officer, Chief Accounting Officer and Senior Vice President
Age: 47
President of J. Crew Brand
Age: 42
Senior Vice President, General Counsel and Secretary
Compensation as of Fiscal Year 2015.

J. Crew Group, Inc. Key Developments

J.Crew Group, Inc. Announces Organizational Changes; Plans a Headcount Reduction of Approximately 175 Open and Filled Full Time Positions

J.Crew Group, Inc. announced several organizational changes and business improvement initiatives to better align with the current and future retail environment. Somsack Sikhounmuong has been named Head of Women's Design for the J.Crew brand, effective immediately. He succeeds Tom Mora, who will be leaving the company. ikhounmuong had been the Head of Design for Madewell for the past two years and in that role had been a key contributor to Madewell's success. Prior to Madewell, he held various design positions at J.Crew from 2001- 2012. He brings to J.Crew a fresh perspective across all categories and has an aesthetic consistent with what J.Crew's customers know and love. He will continue to report to Jenna Lyons, president and executive creative director of J.Crew Group. Joyce Lee has been named head of Women's Design for Madewell. Joyce has been a senior member of the Madewell design team for the past seven years and will continue to execute Madewell's design vision. Prior to Madewell, Lee held design positions at Michael Kors and Marc Jacobs. She will now report to Jenna Lyons. These initiatives include a headcount reduction of approximately 175 open and filled full time positions primarily from its corporate headquarters.

J. Crew Inc. Announces Expansion Plans

J. Crew Inc. announced that capital expenditures reflect improved investments to support strategic initiatives, including 52 new store openings, information technology enhancements, store renovations and warehouse and corporate office improvements. Of the 52 new stores, which is unchanged from prior guidance, the company plans to open 11 J. Crew retail stores, which includes 6 international location as well as 21 Factory stores and 20 Madewell stores.

J. Crew Group, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended May 2, 2015; Provides Capital Expenditure Guidance for the Fiscal Year 2015; Reports Impairment Loss for the First Quarter Ended May 2, 2015

J. Crew Group, Inc. reported unaudited consolidated earnings results for the first quarter ended May 2, 2015. For the quarter, the company reported total revenue of USD 581.804 million compared to USD 591.969 million a year ago. Operating loss was USD 520.592 million compared to operating income of USD 34.018 million a year ago. Loss before income taxes was USD 537.901 million compared to USD 46.429 million a year ago. Net loss was USD 462.411 million compared to USD 30.118 million a year ago. LBITDA was USD 491.6 million compared to EBITDA of USD 59.6 million a year ago. Adjusted EBITDA was USD 44.8 million compared to USD 64.8 million a year ago. Cash flows used in operating activities was USD 4.9 million compared to USD 21.6 million a year ago. Capital expenditures for the first quarter were USD 18 million. For fiscal 2015, the company expects capital expenditures to total approximately USD 105 million to USD 115 million, a reduction from the prior estimate. For the first quarter 2015, the company reported impairment losses of USD 533.362 million.

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