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current news

J. Crew To Open in Canada

(Filed Under Financial and General Interest News). U.S. retailer J. Crew is planning an August opening for its international debut — the company’s first store in Canada.

The store, which will open in a 5,000 square foot space in the Yorkdale Shopping Centre in Toronto, will offer only women’s clothing and accessories. In the U.S., J. Crew offers both women’s and men’s clothing, along with accessories, swimwear, intimate apparel, shoes and select bridal styles.

The company is currently planning to open approximately 20 stores in Canada. Several U.S. and international retailers, including TJX stores, Target, Guess, Forever 21 and Zara, are currently expanding widely or planning to open soon in Canada to take advantage of the country’s robust economy.

J. Crew is counting on the Canada stores to do well after its latest financial results. The retailer posted a loss of $29.9 million compared with a $44.7 million profit in the same period one year earlier. Most of the company’s loss was tied to the takeover costs, as J. Crew was taken private in early March in a $3 billion acquisition by a group of investors.

The J. Crew Group, Inc. currently operates 251 stores across the United States.

more Financial and General Interest News >>

Published 07-11-2011 by Katherine Rautenberg

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