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.