"Thanks!" to Mad about Madras who let us know (in the post "J.Crew's Cardmembers Only: Early Access {wink!}") about a video mentioning J.Crew over at Forbes.com. Click here to watch the video.Back To School Retail Blues
Families are expected to cut back on purchases; J.Crew, Dell, Del Monte will report next week.
By Evelyn Rusli
August 22, 2008
As Mad about Madras pointed out in her comment, Evelyn Rusli and Jeanine Poggi (Forbes.com Fashion Reporter) are standing in front of a J.Crew. All I could help think was "Move out of the way Evelyn and Jeanine, you are standing right in front of the clothes!" and "I want to shop at that J.Crew right now!" :)
What do you think of the video? Do you think parents are spending less money at retailers this year? Do you think that J.Crew's earnings (which took a hit because of the glitch with their online retailing) will bounce back? Would you buy J.Crew stock now?
Glad to share the video. As far as buying J.Crew stock, I still think it's a bit risky. Although they're down to near IPO levels, it could plummet further if the system glitches disrupt people's holiday shopping. I would expect shares to hover in the 20s until J.Crew announce their fourth-quarter earnings.
ReplyDeleteGreat video! I loved the store window. Great combos. I haven't been out in the stores too much in the past week so I can't tell if there is a change in parent spending. I am surprised to see people shopping as much as I do when I'm out considering the news reports we always hear. Guess it depends on where you are.
ReplyDeleteYes, I think JCrew is going to take an even bigger hit than predicted esp. with their website problems...they continue to have issues and as time goes on and the problems are not resolved this could mean bigger hits....
ReplyDeleteI was with my boyfriend in the J.Crew in Manhasset on Saturday (the "Miracle Mile" of Billy Joel fame--lots of cash in the area) and what immediately struck me was the lack of back-to-school shoppers. At this time of year the place should've been full of kids shopping for school, but I only saw one college-age teenager trying on clothes with his mom. And in general the place wasn't really humming with activity. It made me more nervous than ever, not so much about the state of J.Crew, which I'm sure will bounce back, but of the economy in general. I'm pretty sure it's even worse than what's being reported.
ReplyDeletemary, very interesting...I am glad that you shared your observations with us...I too had been wondering if things were worse than being reported...
ReplyDeleteI saw on the news the other day that thrift shops are more and more on the radar for back-to-school items. I was not in J.Crew on an off-hour; it was probably 1:30 on a Saturday afternoon. And on our way back to NJ, we passed the parking lot of the Short Hills mall, which in the past has usually been jam-packed on any given Saturday afternoon. There were tons of parking spaces. My boyfriend and I both were kind of shocked. I'm very curious to hear about how retailers did this quarter, and how they made out for back-to-school season.
ReplyDeleteThis video was very interesting and I'm curious to hear the reporting on Tuesday for J.Crew...I don't think they will by any means be unaffected by the state of the economy...I think there sales may possibly decrease in the present and also in the near future, but in the end I think they will be ok. I just don't understand their reasoning behind RAISING prices along with not allowing stackable codes when the economy is so bad...you would think they would be giving incentives to customers to buy from them, instead of making it harder to do so.
ReplyDeleteMy sister is a HUGE thrift store shopper. I can't believe the great items she finds....she even found a Gucci trench once...I think the place she goes if for designers to dump their stuff...really...the trench did have a rip along the seam in the back but it was easy to repair...this is in Chicago...
ReplyDeleteActually it is going to be the next quarter that will be interesting for JC. That will reflect the website issues for the fall.
ReplyDeleteI agree that J.Crew stock hasn't hit the floor yet. Expect stock prices to be in the low twenties until website problems are a thing of the past.
ReplyDeletegigiofca hit it on the head. Spending will depend on location.
WWD had an article about the new J Crew accessories catalogue set for release soon.
ReplyDeletehttp://www.wwd.com/media-news/fashion-memopad/a-wall-no-longer-a-new-accessory-rules-of-the-game-1724076?page=2
Commentary from Fashionista
http://fashionista.com/2008/08/another_catalogue.php
Is anyone able to access the sale page? I keep trying but keep getting this error:
ReplyDeleteWe are unable to process your request at this time. Please try a little later
I don't know why I'm even checking, anyway, I need to be saving for the fall items I like so much! I think it's just an ingrained morning routine that makes me go check the J.Crew sale page. ;)
I'm hoping that the issue of not being able to access the sale section is because they are updating it, or making changes to the layout. I actually emailed Mr.Drexler yesterday morning to let him know that I think the new layout *which is closer to the old pre-upgrade layout* is 100% better, and less BR/GAP/Ann Taylor looking...definitely an improvement. I also suggested that they put the old Heathered Wheat/Camel background behind all the pictures like it used to be. I also suggested to do a different color other than that stark white on the main sale search page, since it is really distracting and you can't really see the lighter colored items. He replied that he was glad to get my email and that it made his morning...he also forwarded my suggestions to his team...maybe they will actually use them...who knows! :)
ReplyDeleteFFM: If the pretty wheat colored backgrounds come back, we'll know who to thank!! =)
ReplyDelete