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J.Crew Group Inc. is to spin off its rapidly expanding Madewell brand.
Madewell’s parent, Chinos Holdings Inc., will be renamed Madewell Group Inc.
Madewell, a premium denim brand for men and women, operates 133 stores across the U.S. In contrast to the J.Crew brand, Madewell has flourished; during the second quarter (ended Aug. 3), Madewell's same-store sales rose by 10 percent. Its revenue, meanwhile, increased by 15 percent, to $139.7 million.
J.Crew’s comp sales for the quarter decreased by 4 percent.
By Edmund Mander
Director, Editor-In-Chief/SCT
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