J. Crew Group, Inc. operates as a multi-channel specialty retailer of women's, men's, and children's apparel and accessories in the United States. Its retail products include wedding and special occasion attire, weekend clothes, swimwear, loungewear, outerwear, shoes, bags, belts, hair accessories, and jewelry. The company also sells its products through catalogs and Internet. As of February 2, 2008, it operated 199 retail stores and 61 factory stores in 40 states and the District of Columbia. The company was incorporated in 1988 and is headquartered in New York, New York.
Recap of CNBC's Fast Money, Thursday June 5.
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Holy Dow: Wal-Mart (WMT)
Thursday saw a market-wide rally and with a triple-digit jump for the Dow on news of stronger consumer confidence. WMT reached a four-year high thanks to government stimulus checks. Guy Adami predicts the S&P 500 will surpass its point of resistance and reach 1410. Pete Najarian said the market-wide bullishness was “unbelieveable” and couldn’t account for it. Guy Adami pointed to record short interest in May, and says commodities and equities are coming back. Jeff Macke thinks investors are tired of bad news
The stock has plummeted in the past week based on the US economy and reduced earnings estimates, HOWEVER, it should be noted that the company has a very strong and consistent earnings history and continues to post a good profit. In addition, there is a strong managment team in place and very strong CEO (former Wall St Exec). Buy the stock now while it's low, you're getting a bargain. Hold onto it for a year or so and you should be happy with the returns. They are sticking with their pricing and their philosophy, and I think it will pay off.
Oil drops: Hess (HES), Southwest Airlines (LUV), Ultrashort Oil and Gas ProShares (DUG)
Oil fell $4, the furthest in 2 months, even amid news supplies are being squeezed. Joe Terranova commented "the back of the board has fallen $13…I think this is a period for the market to test $120. And from there I’d like to see who shakes themselves out of the market if we break below $120." Terranova is short Hess and is long LUV and the Canadian dollar. Jeff Macke said oil didn't break down, but it did have a near-term top. Dan Fitzpatrick would not mak
4/1 - "The company pleased investors last month, when it reported Q4 EPS of 41 cents (ex-items). That topped the average Street estimate by two cents...Management guided FY09 EPS to $1.85-$1.87, versus consensus of $1.83."
"The news kept JCG shares cycling through a positive five-week trading channel. The price is currently consolidating near the base of that channel, suggesting the potential for a rise back toward the top. Correspondence of the stock's 30-day and 50-day moving averages to the base of the channel backs the rebound notion...A stop-loss of $38.35 looks good here."
J. Crew Group (NYSE: JCG) is a multi-channel retailer of women's and men's apparel, shoes and accessories. Known for its preppy fashions, the firm targets young professionals through 203 retail stores, a catalog business, a Web site and 63 factory outlet stores. Asian contractors produce about eighty percent of the company's merchandise. Competitors include Gap (NYSE: GPS) and Abercrombie and Fitch (NYSE: ANF).
The company pleased investors last month, when it reported Q4 EPS of 41 cen
3/12 - "J.Crew reported Q4 EPS of $0.41 (excluding $0.02 of severance costs) vs. $0.33 LY, above our forecast and Street outlook of $0.39. Total sales were $399.9 million vs. $366.7 million in the prior year, driven by flat same store sales (+4% on realigned basis) and 11% growth in the direct channel."
"We note the potential for earnings upside given outlined product extensions and store expansion plans. Specifically, we see additional growth via crewcuts (10 shop-in-shops, 1-2 freestanding, and inaugural Factory locations in F08) and accessories penetration (including shoes, costume jewe...
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About J. Crew Group Inc.
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