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J.Crew Group Q2 total revenues decreased 5% to $593.6 million

Staff writer ▼ | August 29, 2015
J.Crew Group announced financial results for the second quarter of fiscal 2015. Total revenues decreased 5% to $593.6 million.
J.Crew Group
J.Crew Group   Sales decreased 10% to $506.5 million
Comparable company sales decreased 11% following an increase of 4% in the second quarter last year.

J.Crew sales decreased 10% to $506.5 million. J.Crew comparable sales decreased 13% following an increase of 3% in the second quarter last year.

Madewell sales increased 22% to $67.9 million. Madewell comparable sales increased 8% following an increase of 17% in the second quarter last year.

Gross margin was 34.3% compared to 37.6% in the second quarter last year.

Selling, general and administrative expenses were flat at $199.8 million, or 33.6% of revenues, compared to 31.9% of revenues in the second quarter last year.

Operating income was $2.6 million compared to $36 million in the second quarter last year. Operating income in the second quarter this year includes a charge of $4.5 million for severance and related costs associated with our workforce reduction in June 2015.

Net loss was $13.6 million compared with a net income of $10.8 million in the second quarter last year.

Adjusted EBITDA was $41.0 million compared to $67.6 million in the second quarter last year.


 

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