J. Crew Group Inc. (New York), coming off a fourth quarter in which same-store sales jumped 11 percent, has announced an increase in its capital expenditures for fiscal 2013.
Much of the spend will be in expanding jcrew.com and digital marketing and advertising, at the expense of catalogues, though cfo Stuart Haselden said, “We do believe the catalogue continues to drive online and in-store sales.”
The company also said it will open 46 new retail locations during the year: 17 Madewell stores, 13 factory outlets and 16 J. Crew units, including the first J. Crew in Europe, opening on London's Regent Street in the fourth quarter.
The company said it will roll out additional stores in Europe, and launch stores in Asia, but no specific plans were announced.