J.Crew'S First Quarter Performance Loss Is Still Continuing.

We have reported earlier about the downturn in the US retail industry.

The retail industry will continue to be depressed as consumers become more cautious.

Recently, J.Crew released its quarterly results report, not only declining its performance, but also losing money.

It is reported that in the first quarter of April 30, 2016, the group's revenue fell 3% to 568 million U.S. dollars, while same store sales continued to decline, a 7% decline, compared with the same period last year, recorded a slight decrease in the 8% decline.

Retailers suffer from damage.

Group name brand

In the first quarter, the total sales volume dropped to 6% US dollars, while Madewell had a strong growth of 17%. It recorded 72 million 500 thousand US dollars, but it still can not make up for the poor performance of J.Crew.

In terms of gross margin, the group dropped from 90 basis points to 36.1%.

Group during the first quarter

It narrowed to $8 million from $462 million in the previous year.

Group said, because the current 2016 fiscal year is not optimistic about the retail environment, leading to the group's main brand J.Crew same store sales continued to decline, but due to the Madewell brand's leading, so that the group is still full of confidence in the future.

Affected by the above news, J.Crew shares fell 0.73% on that day.

However, in the coming days, the group will start the recovery plan for J.Crew, and continue to strengthen the full channel marketing mode, so that the Madewell growth rate can be steady.