J. Crew boasted some interesting sales figures this first quarter. Their Net profits declined, but their sales shot up, especially in Men’s sales.
So what does this say about the company? It means their expenditures are larger; their spending more on man power and materials, paving the way to creating a stronger and more high class brand.
Their net income fell 4.5 percent, declining from $30.7 million last year to $29.3 million, yet total revenues rose 12 percent, direct marketing revenues rose 22.8 percent, and for stores that were open at least a year, revenues shot up 5.5 percent.
Though this doesn’t bode well for their investors, it does for their consumers. This means they are creating a higher quality brand, which shadows the shift that the brand is making, changing its image from the college prep standard, to a more mature and stylish brand for an older demographic.
The company is also opening up new stores, like the first one ever in Brooklyn, New York. Some more interesting figures point to a change in their gender demographic as well.
Women’s clothing sales were 58 percent, which was a mark down from 61 percent, and men’s apparel brought up the difference, rising from 20 percent to 23 percent. Accessories and children's apparel stayed the same at 13 percent and 6 percent, respectively.
So what are we looking forward to here? There are murmurs of a new push for more high end apparel for both sexes. We could be looking at a higher class clothing line, or just better materials and more stores for the future of the brand. We think that they may have something up their sleeve; so pay attention Drobers, we could see a new J. Crew emerge, and very soon. Shop some of their styles below, and don't forget to follow us @MyDROBE.
With Style,
Your MyDROBE Team
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