J. Crew’s Loss Widens as Sales Decline
J. Crew Group Inc., an operator of casual clothing stores that began as a catalog retailer, said its first-quarter net loss widened to $19.6 million after sales declined and the company reduced prices.
The closely held company had a net loss of $12.1 million in the year-earlier period.
Sales in the three months ended May 3 fell 3.4% to $161.5 million, New York-based J. Crew said.