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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 3, 1999
J. CREW OPERATING CORP.
(Exact name of registrant as specified in its charter)
Delaware 333-42423 22-3540930
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
770 Broadway, New York, New York 10003
(Address of principal executive offices)
(Zip code)
(212) 209-2500
(Registrant's telephone number, including area code)
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Item 5. Other Events.
Incorporated by reference herein is Registrant's Press Release dated March
3, 1999, announcing the phase out of Registrant's Clifford & Wills operations
over a period of two years.
Item 7. Financial Statements and Exhibits.
(d) Exhibits.
99. Press Release dated March 3, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
J. CREW OPERATING CORP.
By /s/ Richard W. Boyce
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Name: Richard W. Boyce
Title: Chief Executive Officer
Date: March 3, 1999
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EXHIBIT 99
FOR IMMEDIATE RELEASE
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Contact: George Sard/Debbie Miller
Sard Verbinnen & Co
212/687-8080
J. CREW ANNOUNCES PLANS TO PHASE OUT CLIFFORD & WILLS
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NEW YORK, March 3, 1999 - J. Crew Group, Inc. announced today that it plans
to phase out its Clifford & Wills operations over a two-year period. Clifford &
Wills sells its CW brand women's fashion apparel and accessories through a
national mail-order catalog and seven factory-outlet stores.
"This decision is consistent with our efforts to continue to focus the
company's management and financial resources on growing the J. Crew brand," said
Emily Woods, co-founder and chairman of J. Crew. "Clifford & Wills' employees
have done an outstanding job and we appreciate their dedication. We hope to
find jobs for many of these employees at J. Crew and through the C&W
transition."
Clifford & Wills had annual revenues of $74 million for the year ended
January 30, 1999.
J. Crew Group, Inc. is a leading retailer of men's and women's apparel, shoes
and accessories.
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