- J. The crew is closing 50 stores
The company said that same store sales fell 12% in the majority
J.Crew said on Tuesday that he plans to close 50 stores as
Same store sales in the same name brand of the company fell by 12% in
the most recent quarter, continuing a long streak of declines.
Last year, J.Crew's total sales fell 6% to $ 2 billion, and
same store sales fell 8% after having decreased 10% the previous year.
The clothing company separated from its former CEO Mickey
Drexler this summer, as well as her creative director Jenna
In an interview
with The Wall Street Journal Drexler said the retailer
The biggest mistake in recent years is that it increased
their prices at a time when customers were increasingly
aware of the costs.
"We gave the impression of being a company with a higher price than us
They were – in our catalog, online and in our general presentation "
Drexler told The Journal. "Very big mistake".