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Analyst: J. Crew appears 'financially broken,' but brand not completely dead
The clear signal sent by these first quarter numbers is that J. Crew is a company in trouble. As much as the business is used to decline, the accelerated pace of deterioration, as evidenced by the 6.3% drop in overall sales and the 12% fall in J. Crew comparables, is worrying. That this weakness comes off the back of negative prior year numbers suggests that the company has not yet reached rock bottom. -
Sears cutting jobs; key digital exec to leave
Sears Holdings is reducing headcount as part of its ongoing effort to deliver $1.25 billion in annualized cost reductions. It's also losing a key online executive. Sears is eliminating some 400 full-time jobs at its corporate offices, in Hoffman Estates, Illinois, and from its support functions. In addition, certain positions at the chain's field operations will be impacted. The eliminated jobs represent less than half a percent of the 140,000 full-time and part-time employees Sears had as of the end of January.

