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News Stories Thursday, August 8, 2002   
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J. Crew’s web sales are only up area in a flat first half


The web was the only growth area in a flat first half at J. Crew Inc., the company reported today. J. Crew’s Internet sales grew 22% in the first half of this year vs. last year, reaching $56.5 million from $46.3 million. Meanwhile, catalog sales had almost the exact opposite experience for the first six months, declining to $45.6 million from $54.6 million, a 16% fall.

J. Crew’s first half total sales were flat at $318.8 million vs. $319.4 million a year ago. Total revenue, which includes shipping and handling fees of $14.8 million this year and $14.9 million last year, and licensing fees of $1.1 million this year and $1.4 million last year, was $334.7 million vs. $335.7 million last year.

Web sales now account for 17.7% of J. Crew’s sales, up from 14.5% last year.

Web sales growth accelerated even faster in July and in the second quarter compared to the first half, up 20.4% in Q2 to $25.3 million from $21 million, and 44.6% in July to $6.8 million from $4.7 million.

Comparable store sales in the first half fell 12.2% from last year, while comparable factory store sales fell 14.8%. J. Crew operates 146 stores, up from 113 a year ago and 43 factory stores, up from 41.

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