J.Crew Reports Another Strong Year Ahead of Rumored IPO
The J.Crew Group recently revealed a very favorable sales increase since going private back in 2010. Revenue for the American multi-brand retail group were reported to be up nine percent, raking in an additional $2.4 billion USD for the fiscal year, which ended on February 1, 2014. The increase in sales signals a strong turnaround for the group, whose falling sales led to the company agreeing to be taken private which also resulted in a lawsuit between the group and its shareholders. The results are a good sign for the company ahead of a rumored IPO according to sources familiar with the situation. Read more on the potential IPO here.