J.Crew Preps for Bigger Profits
NEW YORK (TheStreet) -- J. Crew (JCG) is steadily rowing along, as its quarterly profit beat Wall Street estimates. Even better, the apparel retailer said third-quarter earnings will likely come in above current forecasts.
Shares of the company received a 2% boost in after-market trading to $33.46.
In the just-ended quarter, the company said it earned $18.6 million, or 29 cents a share, compared with $18.1 million, or 28 cents a share, in the year-ago period. Analysts expected the company to earn 15 cents a share. Revenue rose 6% to $357.6 million from $336.3 million, but same-store sales slipped 5%. Looking ahead, J.Crew forecast third-quarter earnings in the range of 30 cents to 33 cents, a bit higher than the 30 cents predicted by analysts. -Reported by Jeanine Poggi in New York.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV