J.Crew’s Sales Numbers Aren’t So Hot Right Now

Photo: Tim Boyle/2006 Getty Images

For the first quarter of 2011, J.Crew posted losses of $29.9 million, which the company attributes to costs related to its March buyout as well as increased markdowns and promotions. (You know, those "20% OFF + FREE SHIPPING!" e-mails they send out every day.) It could also be due to a misjudgment about the demand for ruffled shirts. [WSJ]