Last year J. Crew went back to its plaid and pastel roots, after customers balked at the Americana brand’s increasingly fashion-forward styles. To little avail: Today the company said that same-store sales were down 7% last quarter.
CEO Mickey Drexler described the retail environment as “challenging” in his announcement, echoing the sentiments expressed by retail heads at Gap Inc, Macy’s, and Nordstrom in recent weeks. AH