J.Crew eyes potential refinancing, may redeem 8 1/8% notes due 2019

By Angela McDaniels

Tacoma, Wash., Feb. 20 - J.Crew Group, Inc. announced a potential refinancing of some of its existing debt.

The proceeds from this refinancing are expected to be used in part to redeem the company's 8 1/8% senior notes due 2019, according to a company news release.

In connection with the potential refinancing, the company announced some unaudited financial results for the three months and the fiscal year ended Feb. 1.

For the year, revenues increased 9% to $2.43 billion, and adjusted EBITDA is estimated to be within a range of $369 million to $371 million, compared with $360 million last year.

The company ended the year with $1.57 billion of debt and $157 million of cash and cash equivalents. It ended the prior year with $1.58 billion of debt and $68 million of cash and cash equivalents.

J.Crew Group is based in New York. It is a multi-channel retailer of women's, men's and children's apparel, shoes and accessories.

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