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Fashion News

 

J. Crew Has Profitable 2012

 

While profits declined for the fourth-quarter, overall 2012 was a profitable year for J. Crew, with profits rising 86.7% to $96.1 million from $51.5 million. Revenues rose 20% to $2.23 billion. Stuart C. Haselden, J. Crew’s chief financial officer, pointed to the increased rate of store openings – J. Crew ended the year with 401 units, as compared to 362 in 2011 – as an explanation for J. Crew’s profits. Looking towards 2013, J. Crew plans to open 46 openings, including their first location in Europe. 

 

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