Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

J. Crew Has a Sweater Problem

J. Crew is already coming off a “lousy year” in women’s clothing. Now, the company is having trouble with an important piece of its business: sweaters.
By
  • Bloomberg

NEW YORK, United States — J. Crew is already coming off a "lousy year" in women's clothing. Now, the company is having trouble with an important piece of its business: sweaters.

The privately-held apparel company reported weak results on Thursday, with sales at J. Crew's namesake brand sliding 5.2 percent to $508.7 million for the quarter. On a conference call with analysts, CEO Mickey Drexler pointed to two categories as the cause of problems for J. Crew's women's line. "The lion's share of our women's issue is isolated to knits and sweaters, which has been an outsized portion of our business," he said.

One of J. Crew's cardigans didn’t fit well, Drexler said. The retailer's Tippi pullover sweaters sold like crazy, but J. Crew didn't order enough of them. Meanwhile, the Tippi's sister style — or its "slightly shrunken cousin," as J. Crew's website puts it — didn't sell as well as anticipated. J. Crew's entire knit business was lackluster in February, March, and April, Drexler said, adding that the company plans to keep things "classic" with its sweater selection going forward.

Executives have been struggling to patch up J. Crew's women clothing business after a dismal year plagued by fashion misses and strategic errors. A significant amount of that business comes from J. Crew's selection of cardigans, pullovers, and knit tops. Failing in that category is enough to dent the bottom line, though Drexler declined to reveal specific sales numbers or percentages.

ADVERTISEMENT

J. Crew's rapidly growing offshoot Madewell remains on its stellar run, with sales up 33 percent to $61.9 million. As for its namesake chain, J. Crew expects its womenswear woes to drag on through the end of the year, the company said in a release.

"We just made mistakes," said Drexler.

By Kim Bhasin; editor: Katie Drummond.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from News & Analysis
Fashion News, Analysis and Business Intelligence from the leading digital authority on the global fashion industry.
view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections