J. Crew Group, Inc. recorded revenue of $414.1 million during third quarter 2009. The apparel marketer’s net income was $43.9 million, compared to a net income of $19 million in the third quarter of fiscal 2008.
Store sales increased 20% to $300.1 million, with comparable store sales increasing 8% from third-quarter 2008’s level. Direct sales (Internet and telephone) rose by 4% to $105.5 million.
Operating income increased to $75.2 million, or 18.2% of revenue, compared to $32.5 million, or 9.0% of revenue a year ago.
For the first nine months of 2009, J. Crew’s revenue rose 7% to $1.12 billion. Net income was $82.9 million, compared to a net income of $67.7 million.
Store sales increased 11% to $799.9 million, with comparable store sales decreasing 0.4%. Direct sales rose by 1% to $289 million.
Gross margin increased to 44.2% of revenues from 43.1% of revenues during the first nine months of fiscal 2008.
