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J.Crew’s flagship brand Madewel returns to positive growth in Q2

Madewel, the flagship brand of J.Crew returned to positive comparable growth for the first time in four years in Q2 2018. The brand registered total revenues of $ 587.6 million for the second quarter of fiscal 2018 with comparable sales increasing by 5 per cent, following a 5 per cent decline in the prior-year period.

In the first half of fiscal 2018, the company’s revenues rose 3 per cent to $1.13 billion, while comparable sales increased by 3 per cent. Sales decreased 6 per cent to $820.7 million, with comps decreasing 3 per cent. Madewell’s sales increased 34 per cent to $237.5 million, reporting an increase in comps of 29 per cent.

Operating income of the company for the six-month period totaled $32.4 million, compared with an operating loss of $146.3 million in the prior-year period, while net loss came to $40.0 million, a significant improvement compared to the $139.5 million reported in the same period in the previous year.