On Wall Street Joe Rennison. Sunday, 17 May, The FT View The editorial board. A flood of bankruptcies must not overwhelm the recovery. Thursday, 14 May, J Crew, Brooks Brothers and the decline of American prep style. Sunday, 10 May, Rana Foroohar. Gambling on US equities is becoming more difficult.
Monday, 4 May, J Crew: abandon ship Premium content. US retail. Fashion group J Crew pushed into bankruptcy. Monday, 30 March, News in-depth US retail. US retailers teeter on the brink as , outlets close. Monday, 16 September, Wednesday, 29 May, Madewell sales cool but continue to fuel JCrew revenues. Friday, 18 January, Thursday, 29 November, Madewell fuels J. Crew sales but margins hit. Tuesday, 27 March, J Crew sales grow as Madewell makes good.
Friday, 29 December, FT Series Retail: clearance sale. Wednesday, 23 August, J Crew sales slump deepens despite Madewell momentum. Friday, 16 June, Crew gets reprieve after bondholders accept debt restructuring. Monday, 12 June, Retail sector. Crew losses widen in Q1 as sales decline accelerates.
Wednesday, 7 June, High yield bonds. Investors cry foul at aggressive clause in euro high-yield sale. Tuesday, 6 June, J Crew: finance over fashion Premium content. Monday, 5 June, Tuesday, 25 April, Crew also must take costs out of the system at the buying and merchandising line and optimize its marketing, promotion, and advertising.
It needs to refocus marketing spending on social media, which tends to be less costly, especially when a retailer knows a lot about the customer. Most important, however, is that J. Crew must rethink its consumer value proposition. Being just an overpriced prep brand is simply not a compelling value proposition today. Some years back, J. Crew has experienced longtime tension between serving its loyalists, the women who entered the brand in their 20s and stayed with it into their 40s, and bringing in younger customers.
Young women in their early 20s into their 30s tend to view J. Crew as a brand where their older sister used to shop or, worse, where their mother used to shop. Even in terms of serving its loyalists, it ran into two problems: Their best customers were spending less while J.
Crew had a pricing problem. It was viewed even by loyalists as too pricey versus anywhere else in the mall or online. The other problem that crept in was quality. To pull through, J. Crew must revitalize the front end of the customer acquisition pipeline and create a point of view that appeals to younger customers entering their peak spending years. CEO Jan Singer should bring in a team that will create a new look, the same way that Madewell has: something relatively simple but still lending it some style.
Over time, the company must employ a shrink-to-grow strategy. By working its pricing levers more appropriately, J. Crew can develop more profitability from everything it sells. Crew with all these steps, but the full fix may well take two years.
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News Releases ; Toggle Summary 04/01/21, discover-newyork.com Group Bolsters Management Team with Proven Leaders to Advance Long-Term Strategic Growth Plan · discover-newyork.com Group. For financial information, see our consolidated financial statements and the accompanying notes, which begin on page F-1 of this Annual Report on Form K. Crew Group is capitalized with a $ million exit term loan due provided by Anchorage, as well as GSO Capital Partners LP and Davidson.