Shares of J Crew Group (JCG) are up $1.14, or 2.6%, at $45 after the company this afternoon beat Q1 (April-ending) revenue estimates, reporting sales rose 20% to $414 million, ahead of the consensus $394 million estimate, yielding profit per share of 68 cents, 11 cents better than expected.
The company projected Q2 profit per share of 40 cents to 45 cents, which is below the average 44-cent estimate at the midpoint, but raised its profit per share forecast for the year range of $2.35 to $2.45, from a prior range of $2.20 to $2.30, and well ahead of analyst’ $2.35 estimate.
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