This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

J. Crew Stock Soars on Forecast Boost

(Updated with analyst commentary)

NEW YORK ( TheStreet) -- J. Crew (JCG) shares are soaring Thursday morning after the specialty retailer raised its full-year forecast.

The company now expects earnings in the range of 54 cents to 59 cents a share, up from a prior forecast between 30 cents and 33 cents.

J. Crew also announced that it is seeing some positive signs for the fourth quarter, which includes the all-important holiday season. Management foresees a same-store sales increase in the mid-to-high single digits.

Crew Grew!

The preppy retailer has continued to offer newer merchandise (even First Lady Michelle Obama is a fan) even as other retailers play it safe. It is also tightly controlling inventory and hasn't resorted to drastic markdowns, as its competitors have done.

"We believe the company is one of the key winners for the fall season," Eric Beder, analyst at Brean Murray, Carret, wrote in a note. "And [it] is demonstrating that even in tough times, the consumer will pay a premium for strong fashion items that resonate with their core values."

As a result, Beder upped his price target to $44 from $42.

J.Crew plans to release its quarterly report on Nov. 23.

Shares of the company are soaring by 12% to $42.27 in afternoon trading.

-- Reported by Jeanine Poggi in New York

Follow on Twitter and become a fan on Facebook.
Copyright 2009 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 0.00%
FB $118.06 0.00%
GOOG $695.70 0.00%
TSLA $222.56 0.00%
YHOO $36.00 0.00%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs