Thank You J. Crew
JCG produced a really nice quarter today. Actually raised guidance, in the mist of a blood bath retail envirnoment. There was nothing not to like.
Most impressive: 79% of revenue comes from the ‘direct biz’, with a growth of 36%. (In other words, same store sales from JCG is becoming irrelevant.)
My only Negative: Inventories increased by 10% from the last quarter to the current.
As for the chart… if JCG jumps in normal hour trading, as after hours suggests, it will be breaking from its negative trend.
Given Bernake hinted at more rate cuts, the market maybe up tomorrow, giving some wind to JCG’s back.
Got nothing but respect for this management team.
