J. Crew swings to loss

New York — It was tough sledding for J. Crew Group in the second quarter as its namesake brand continued to decline.



The retailer swung to a net loss of $13.6 million for the quarter, ended Aug. 1, compared with earnings of $10.8 million in the year-ago period.



Revenue fell 5% to $593.6 million.



Same-store sales fell 11%, with a 13% drop at the namesake stores. At J. Crew’s Madewell division, same-store sales increased 8%.



“Our performance in the second quarter was in line with our expectations,” said Millard Drexler, chairman and CEO. “Entering fall, we feel good about the assortments in stores and online, which reflect more emphasis on the key product categories that our customers love J.Crew for. At the same time, our team has taken a hard look at the business and made changes to drive greater efficiency and profitability. We’re focused on our performance in the second half of the year and positioning the business for sustained growth.”