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News Stories Thursday, May 8, 2003   
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Web-based sales at J. Crew grew 17% in quarter

Internet sales at J.Crew Group Inc. grew 17% in the quarter that ended May 3 to $36.6 million, the company reports. The Internet was J. Crew’s only channel for growth in the quarter, which saw total revenue decline 3.3% to $161.5 million. Store revenue was off 4.5% to $81.8 million. Catalog revenue was off 26% to $18.4 million. Factory stores revenue and other revenue were flat. Comparable store sales were down 11.1%. In the quarter, the web accounted for 22.7% of all sales, up from 19% a year ago.

In April, total revenue was up 5% to $57.7 million. Web-based revenue increased 41% to $13.3 million. Store revenue was up 2% to $30 million, while catalog revenue decreased 27.6% to $5.5 million and factory store revenue was up 9% to $6.1 million. Comparable store sales were down 4%.

J.Crew operates 154 retail stores, a catalog, jcrew.com, and 42 factory outlet stores.

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