Tags: J-Crew | Profit | Retail | Public

J Crew Profit Falls as Retailer Mulls Going Public Again

Monday, 24 Mar 2014 05:16 PM

J. Crew Group Inc., the retail chain owned by TPG Capital and Leonard Green & Partners LP, reported a 42 percent drop in fourth-quarter profit amid a broader decline in shopping-mall traffic.

Net income tumbled to $5.92 million in the period, down from $10.2 million a year earlier, the New York-based company said Monday in a statement. Revenue grew almost 7 percent to $686.2 million in the quarter, which ended Feb. 1.

J. Crew is working to bounce back from an industry slump that hurt holiday sales and triggered a wave of discounting among rival retailers. At the same time, the company is contemplating an initial public offering later this year, according to people familiar with the matter. It also held early-stage talks with Japan’s Fast Retailing Co. about a sale of the chain, people said in February.

J. Crew, whose clothes have been worn by celebrities such as Michelle Obama and Kate Middleton, was acquired by TPG and Leonard Green more than three years ago. The chain could fetch a valuation of as much as $5 billion in a potential public offering, one person familiar with the situation said.

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J. Crew Group Inc., the retail chain owned by TPG Capital and Leonard Green & Partners LP, reported a 42 percent drop in fourth-quarter profit amid a broader decline in shopping-mall traffic.
J-Crew,Profit,Retail,Public
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2014-16-24
Monday, 24 Mar 2014 05:16 PM
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