On Nov. 21, J. Crew Group
- Sales rose 23% for the quarter, powered by a 19% increase in same-store sales in the retail division.
- Margin improvements fell all the way to the bottom line, with net margins increasing even faster because of lower interest payments.
- Shares outstanding are way up for the quarter because of the IPO earlier this year. Those proceeds were used to pay down debt and fund additional expansion.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$275.6 |
$223.4 |
23.4% |
|
Net Profit |
$26.0 |
($0.3) |
N/A |
|
EPS |
$0.40 |
($0.01) |
N/A |
|
Diluted Shares |
64.7 |
24.7 |
161.9% |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
46.4% |
43.8% |
2.6 |
|
Operating Margin |
12.1% |
9.9% |
2.2 |
|
Net Margin |
9.4% |
(0.2%) |
9.6 |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
Assets | Q3 2006 | Q3 2005 | Change |
|---|---|---|---|
Cash + ST Invest. | $72.5 | $28.4 | 155.3% |
Accounts Rec. | $0.0 | $0.0 | N/A |
Inventory | $174.7 | $160.7 | 8.7% |
Liabilities | Q3 2006 | Q3 2005 | Change |
|---|---|---|---|
Accounts Payable | $85.3 | $97.4 | (12.4%) |
Long-Term Debt | $247.2 | $617.4 | (60.0%) |
Learn the ways of the balance sheet.
Cash Flow Highlights
No cash flow statement was given in the release. That's like mixing vertical and horizontal stripes in an outfit -- a big no-no.
Find out why Fools always follow the money.
Related Companies:
- Gap
(NYSE:GPS) - Lands' End, from Sears Holdings
(NASDAQ:SHLD) - Abercrombie & Fitch
(NYSE:ANF)
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At the time of publication, David Meier did not own shares in any of the companies mentioned. Fool rules for disclosure are here.
