July 13, 2001, 12:00 AM

J. Crew’s Internet sales grow sharply, while overall sales are flat

Apparel retailer J. Crew’s Internet sales, which have grown 28% this year, now rival its catalog sales, which have fallen 25%. Companywide sales are flat this year.

Internet sales for apparel retailer J. Crew Group Inc. grew 24% in the five weeks ended July 7 over the same period a year ago. J. Crew’s Internet sales totaled $9.8 million in June, vs. $7.1 million in June 2000. For the first 22 weeks of the year, web sales reached $41.6 million, up 28% over the $32.4 million in last year’s first 22 weeks.

J. Crew’s web sales are now rivaling its catalog sales, which reached $10 million in June and $48.4 million in the first 22 weeks of the year. June and YTD catalog sales declined 25% from the year earlier.

Companywide sales were flat in June from June 2000: $66.9 million this year vs. $66.6 million the year earlier. The same was true for YTD sales: $290.6 million this year vs. $289.1 million last year.

"The difficult retail climate continues to negatively impact our sales growth, but total sales for June were in line with our revised expectations," said Chief Executive Officer Mark Sarvary. "In light of current sales trends, we`re paying close attention to inventories as we approach the second half of fiscal 2001."

J. Crew operates 114 retail stores, 41 factory outlet stores, the J. Crew catalog and jcrew.com


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