J. Crew on Monday said in an earnings call that it had reached an agreement to spin off its Madewell denim brand and take it public some time in the first quarter of next year.
The announcement came as the apparel retailer also reported a 1% third quarter revenue rise to $625.6 million, with J. Crew sales falling 4% to $415.8 million and Madewell sales rising 13% to $151.6 million, according to a company press release. Digital sales drove more than half of that, executives said on a conference call.. . . more