Report: J. Crew Lays Off 10 Percent of Corporate Staff

J.Crew
J. Crew reportedly laid off 10 percent of its staff on June 10, 2015. Mike Segar/Reuters

J. Crew has reportedly laid off 10 percent of its staff at its New York City headquarters, an insider source told Racked, a fashion industry publication.

This news comes just days after J. Crew released disappointing quarterly results. In the first fiscal quarter of the year, J. Crew total revenues were down 2 percent, with sales down 5 percent. Gross margin fell from 38.6 percent this time last year to 37.2 percent.

Though J. Crew did not immediately reply to a Newsweek request for comment, a spokesperson told Racked the company couldn't confirm the layoff report but will have "a press release coming out later today with some announcements."