J.Crew Profit Falls as Company Contemplates Going Public Again
J.Crew, the retail chain owned by TPG Capital and Leonard Green & Partners LP, reported a 42 percent drop in fourth-quarter profit amid a broader decline in shopping mall traffic. Net income tumbled to $5.92 million in the quarter, down from $10.2 million a year earlier, the New York-based company said yesterday. Still, revenue grew almost 7 percent to $686.2 million in the period, which ended Feb. 1. At the same time, the company is contemplating an initial public offering for later this year, according to people familiar with the matter.