J Crew returns to profit

US retailer J Crew Group said that it had returned to profit in the second quarter, thanks to a stronger sales performance and higher prices. Net income for the quarter soared to $2 million (£1.09 million), from a lossmaking $14 million in the same period last year. Net sales rose 22 percent to $229 million from $188 million last year. Meanwhile, same-store sales climbed 15 percent.

J Crew Group is a multi-channel retailer of quality women's and men's apparel, shoes and accessories.