Consumers are clearly shopping again. J. Crew just posted a third-quarter profit of $44 million, up more than double from $19 million last year:
Marketwatch: J. Crew Group Inc. late Tuesday reported its third-quarter net income more than doubled to $43.9 million, or 67 cents a share, from $19 million, or 30 cents a share, in the same quarter a year ago. Revenue increased to $414.1 million from $363.1 million a year earlier. Analysts surveyed by FactSet Research had forecast the New York-based company to earn 58 cents a share on $406.6 million in revenue. The fashion retailer projected fourth-quarter earnings of 37 cents a share to 42 cents a share
Currently, J. Crew’s stock is up 5.4% at $43.05 a share.