J.Crew revenue boosted by 39% sales jump at Madewell

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J.Crew update

J.Crew has posted an uptick in group revenue for its first quarter, as the fashion retailer reaped the rewards of the success from its Madewell brand.

The younger stablemate brand recorded a 31 per cent surge in comparable sales, while total sales jumped 39 per cent to $115.8 million (£86 million) in the three month period to May 5.

Meanwhile, J.Crew branded sales decreased by seven per cent to $391.9 million (£294.1 million) as comparable sales dropped six per cent.

As a result, J.Crew’s overall group revenue rose by three per cent to $540.5 million (£405.6 million) with comparable company sales increasing marginally by one per cent – a come back from the eight per cent decrease in the first quarter of its previous fiscal year.

J.Crew chief executive Jim Brett hailed the first quarter results as a strong start for the fashion retailer, and highlighted the 28 per cent increase in adjusted EBITDA.

“J.Crew brand sales continue to sequentially improve toward positive comp, and Madewell had a record quarter with a 31 per cent comp increase.

“Most significantly, for the first time since 2014, the company achieved comparable sales growth.”

J.Crew said it was now planning to expand and enhance its product range as well as launch a data-driven personalisation engine and a points-based loyalty scheme for customers.

J.Crew is also due to be relaunched in September.

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