Research Update: J. Crew Group Inc. Outlook Revised To Negative On Expectations Of Continued Weak Credit Protection Measures Dec 11
Standard & Poors, December 2011
Abstract
Year-to-date performance of U.S. specialty apparel retailer J. Crew has been below our expectations as margins have not recovered from merchandise missteps from earlier this year. We anticipate that credit protection measures will remain weak, with leverage slightly under 7x. We are revising our outlook to negative from stable. The negative outlook reflects our view that, while we expect operations to stabilize over the near term, they will do so at a diminished level. On Dec. 5, 2011, Standard & Poor's Ratings Services revised its outlook on New York City-based J. Crew Inc. to negative from stable. At the same time, we affirmed all of our ratings on the company, including our 'B' corporate credit rating. The outlook revision reflects...
Companies mentioned in this report are:
- J. Crew Group Inc.
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- J. Crew Group Inc.
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