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J Crew Sales Up 14 Percent In 3rd Quarter

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J Crew Sales Up 14 Percent In 3rd Quarter

Business

J Crew Sales Up 14 Percent In 3rd Quarter

J Crew Sales Up 14 Percent In 3rd Quarter

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J Crew Group Inc reported a quarterly net profit far above Wall Street estimates. Thanks to strong autumn sales of clothing and expanded profit margins from depressed year-ago levels. J Crew has been one of the few U.S. apparel retailers to see robust sales in a still-weak economy. J Crew is the clothing company that outfits the Obama girls.

STEVE INSKEEP, host:

When a president wins an election by so many votes than he can even get other politicians elected, it's said that he brings them in on his coattails, or that he has long coattails. President Obama has yet to show if he can bring people in on his coattails, but it seems members of his family have long coattails when it comes to clothes and helping out a particular retailer.

J. Crew is one of the companies favored by Michelle Obama. She and her daughters have been seen and photographed wearing their preppy clothing styles, which can't hurt for J. Crew. Yesterday the company said sales in the last quarter rose 14 percent, and with the help of cost-cutting, profits more than doubled over last year.

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