Operating loses at J. Crew Inc. decreased to $2 million in the first quarter ending May 1, compared to $10 million during the first period last year. But consolidated revenues declined 10% to $145 million.
The decline was due to a 34% or $19 million decrease in catalog and Internet sales. This was due to planned reductions in catalog pages, circulation and clearance sales. Retail sales, including factory outlet, increased to $104 million this year, compared to $98 million during the first quarter last year.
“Demand for J. Crew apparel and accessories is ahead of expectations and we are experiencing strong performance across retail, Internet and catalog,” said Millard Drexler, chairman and CEO in a statement.
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