Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Internet sales at J. Crew, retailer of men`s and women`s apparel, inched up 3.6% in August to $11 million from $10.6 million in August last year. Companywide sales during the month fell 6.5%.
Internet sales at J. Crew Group Inc., retailer of men`s and women`s apparel, inched up 3.6% in August to $11 million from $10.6 million in August last year, the company reported today. Companywide sales during the month fell 6.5% to $59.7 million from $63.6 million in August 2001. Comparable store sales for the month decreased 13.3%.
For the first 30 weeks of the year, web sales increased 18% to $67.4 million from $56.9 million a year ago. Companywide 30-week sales slipped 1.2% to $394.4 million from $399.3 million. Web sales now account for 17% of J. Crew’s sales vs. 14.2% a year ago. Comparable store sales were down 12.3%.
Catalog sales continued to slide, dropping 24.8% in August vs. August last year to $9.1 million from $12.1 million. For the year to date, catalog sales have fallen 18% to $54.8 million from $66.7 million.
J. Crew operates 147 retail stores, the J.Crew catalog business, jcrew.com, and 43 factory outlet stores.