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J. Crew Q4 sales up, but profit drops
Although fourth-quarter sales at J. Crew increased, the retailer saw profit drop 42% in the quarter amid higher costs.
Net income fell to $5.92 million in the quarter, down from $10.2 million in the year-ago period.
Revenue increased 6.7% to $686.2 million. Retail store sales rose 5% to $438.6 million and direct sales jumped 10% to $238.1 million
Same-store sales, which include direct sales, increased 3%. Excluding a calendar shift, comparable-store sales increased 4%.
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Balance Innovations appoints EVP, tech innovation
Balance Innovations has appointed Al Ruth as EVP of technology innovation.
Ruth is a veteran of the retail technology industry with 17 years of experience managing data warehouse database solutions and customer support for top-tier retail accounts. In this role, Ruth will be responsible for providing technical perspective in sales efforts, working with the account management team and driving key innovation efforts.