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J. Crew posts better-than-expected Q4 results


New York City J. Crew Group on Tuesday reported a fiscal fourth-quarter loss on lower demand, but results were better than analysts had predicted.

Losses for the three months ended Jan. 31 totaled $13.5 million, compared with a year-ago profit of $25 million last year.

Revenue fell 3% to $388 million, from $399.9 million last year.

Millard Drexler, company chief executive, said in a statement that J. Crew is adjusting to the "new, not fun, retail reality."

For the year, profit fell 44% to $54.1 million, from $97.1 million a year ago. But revenue rose 7% to $1.42 billion, from $1.33 billion last year.

Looking ahead, J. Crew said it expects fiscal first-quarter profit to decline and said it will stop providing annual guidance.

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