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J. Crew May Expand Madewell Brand
June 27, 2008

New York-based J. Crew Group Inc. will decide whether to expand its Madewell brand during the second half of the year, according to the Associated Press (AP). Jim Scully, CFO of the company, made the announcement during the Wachovia Nantucket Equity Conference. "We decided that the second half of this year we were going to make a 'go or no go' decision on Madewell," Scully said. "One thing we won't do is lose $15 million a year, we'll either lose zero or ramp up and be profitable." Scully added that any expansion would occur in 2010 due to real estate factors. J. Crew currently operates eight Madewell stores in the United States, with two more scheduled to debut this year. A Madewell online store is expected to launch in July or August. The company started developing the lower-priced offshoot in 2006, and still classifies the line as "research and development," the AP reported. J. Crew is also testing jewelry and is considering expanding its yoga activewear line by fall.

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