J. Crew catalog sales slip, web sales up 29%
E-commerce sales continue to grow at multi-channel retailer J. Crew Group Inc. Second quarter web revenue was $57.3 million compared to $44.3 million in Q2 2006. Catalog revenue slid 7% to $17.2 million, reflecting a continuing shift of direct customers to the Internet, the company says.
J. Crew, No. 63 in the Internet Retailer Top 500 Guide, operates JCrew.com. Combined web and catalog sales for Q2 2007, ended Aug. 4, were $74.5 million, up from $62.8 million in the same quarter last year, according to a quarterly financial report recently filed with the Securities and Exchange Commission.
Overall revenue for the second quarter increased by $35.5 million, or 13% year-over-year, to $304.7 million from $269.2 million. The company operated 185 retail stores and 53 factory outlet stores in the second quarter.
Comparable store sales increased $7 million, or 3.6%, to $203.4 million in Q2 2007, up from $196.4 million in the same period last year. For the first half of 2007, comparable store sales increased 8% over the same period last year, to $390.1 million from $361.8 million.
First half direct sales were up 25% to $161.1 million compared with the first six months of 2006. Total revenue was $602 million, up 18% from the same period in 2006.
Back...
