Posted on November 23, 2017

J.Crew to close 50 stores as sales plunge again

On November, 2017

There is apparently no end in sight to the deterioration of the J.Crew brand. Same-store sales plummeted 12% at J.Crew’s namesake brand in the third quarter and the parent company said on Tuesday it expected to close 50 stores in 2017, up from a forecast of 30 just three months ago. But such is the tailspin its sales are in. Business at sister chain Madewell, was brisk, with comparable sales up 13%, but the brand is too small in relation to J.Crew to mitigate the flagship brand’s deepening woes. J. Crew Group as a whole said comparable sales fell 9%, a result likely to extend the turmoil the brand has found itself in for the last two years.

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