J.Crew receives approval for Madewell spinoff but its Q3 losses widen

J.Crew Group, Inc., for its third quarter, announced, total revenue increase of 1 percent to 625.6 million dollars. The company’s comparable sales increased 3 percent following an increase of 8 percent in the third quarter last year. J.Crew brand sales decreased 4 percent to 415.8 million dollars, while its comparable sales were flat following an increase of 4 percent in the same quarter last year. Madewell brand sales increased 13 percent to 151.6 million dollars, while its comparable sales increased 10 percent following an increase of 22 percent in the third quarter last year.