Retailers advance, J.Crew gets upgrade by Matt Andrewjczak
SAN FRANCISCO (MarketWatch) — Retail stocks rose early Monday, with an analyst upgrade lifting shares of clothing retailer J Crew Group Inc.Citigroup dropped its sell rating on J Crew (JCG):
JCG 32.15, +1.77, +5.8%) , upgrading the company to hold. In a research note, analyst Kimberly Greenberger said J Crew’s improving sales and conservative profit forecast for the second quarter could lead to “slight” earnings upside.
J.Crew, which faced slowing sales in April and May, has pegged earnings between 31 cents and 33 cents a share. Its stock rose 1.7% to $32.65 in early trading. The shares are down 32% so far this year, compared with a 13% decline for the S&P Retail Index.
I wonder how the the arrival of the Fall Collection will translate for them. Their stock did really well at the end of last year.
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